IEA: Oil markets to swing from surplus to deficit in H1 2017 on supply cut

Bloomberg reporting additional headlines from the International Energy Agency (IEA), after the Paris-based organization published its monthly oil report a day before.

Key Quotes:

"Before the agreement among producers, our demand and supply numbers suggested that the market would re-balance by the end of 2017" 

"If OPEC promptly and fully sticks to its production target" and other producers cut as agreed, "the market is likely to move into deficit in the first half of 2017."