Oil: Opec and IEA reports point to lower for longer

Opec and the IEA have both released their monthly reports during the last 24 hours. What they both agree on is that the overhang of supply is likely to persist well into 2017 on a combination of resilient non-Opec production and slowing demand growth. This is likely to keep oil markets range-bound for longer and keep the upside limited.

from Ole Hansen - Authored content https://www.tradingfloor.com/posts/oil-opec-and-iea-reports-point-to-lower-for-longer-8059265?utm_medium=tf4-feed&utm_source=extract