[World oil market ‘adequately supplied’] NEWS UPDATED BY COMMODITYPROFITPLUS.COM

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1.The International Energy Agency (IEA), in its monthly oil market report, released this Friday, lowered global oil demand growth forecast for 2018 and 2019 by 0.11 million barrels per day (mbpd) to 1.28 mbpd and 1.36 mbpd respectively.

2.Global oil output has risen 1.4 mbpd since May, suggesting the market is adequately supplied for now.

 

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