October Industry Affairs

IEA: Oil market’s rebalancing could come faster if OPEC sticks to target

HOUSTON, 10/11/2016

By Oil & Gas Journal Editors

“The waiting game is over,” the International Energy Agency said in the October issue of its Oil Market Report. This is in regard to the fact that the Organization of Petroleum Exporting Countries has effectively abandoned its free-market policy set nearly 2 years ago, setting a new supply target of between 32.5-33 million b/d.