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13.02.2018 14:30

IEA says U.S. oil output will soon overtake Saudi Arabia’s; by year-end may top Russia’s

  • OECD oil inventories at end-dec 52 mln barrels above five-year average, vs 264 mln barrels a year earlier

  • Oil demand grew by 1.6 mln bpd in 2017

  • Non-OPEC oil supply, led by United States, likely to grow more than demand in 2018

  • Raises forecast for global oil demand growth to 1.4 mln bpd in 2018 from 1.3 mln bpd

Focus market

  • U.S building permits and housing starts rose more than expected in January
  • Chicago Business Barometer rose to 67.6 in December, up from 63.9
  • U.S import and export prices rose more than expected in January
  • Canadian manufacturing sales declined 0.3% to $55.5 billion in December
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