IEA Medium Term Oil Market report Released today.
Basically, says we're going to remain in a Global surplus situation for 2016 and a balanced suply/demand in 2017.
Some extracts:
- anybody who believes that we have seen the last of rising LTO <Light Tight Oil> production in the United States should think again; by the end of our forecast in 2021, total US liquids production will have increased by a net 1.3 mb/d compared to 2015.
- for 2016 we expect a further <global> build of 1.1 mb/d. Only in 2017 will we finally see oil supply and demand aligned...
- it should be stressed that non-OECD Asia will still remain the major source of oil demand growth with volumes increasing from 23.7 mb/d in 2015 to 28.9 mb/d in 2021
Read more Overview details here:
https://www.iea.org/Textbase/npsum/MTOMR2016sum.pdf
or buy the full report for €100.