4 Jul 2017
IEA's Birol: Oil market to rebalance in second half of 2017 - Reuters
"The global oil market is expected to rebalance in the second half of 2017, but further output increases among key producers such as Nigeria and Libya could hamper this process", International Energy Agency chief Fatih Birol said on Tuesday, as reported by Reuters.
Key quotes (via Reuters):
- Rebalancing in H2 of 2017 depends on key producers not increasing output further
- No matter what OPEC does, if oil prices rise, there will be a response from shale producers