IEA Says Oil Market Tightening, But Global Demand May Falter - Bloomberg:
Global oil markets are tightening as OPEC supply falls, the International Energy Agency said, while warning it could lower demand forecasts because of economic threats.
Crude inventories are set to decline for the rest of the year as Saudi Arabia and its partners curb production, while exports from Venezuela and Iran are squeezed by economic and political crises, the agency said in its monthly report. But it cautioned that threats in the world economy, from Europe to emerging markets, could take a toll on fuel consumption.
“The oil market shows signs of tightening as we move into the second quarter of 2019, but we see mixed signals in terms of the outlook for demand,” said the Paris-based agency, which advises most major economies. Risks to demand are “currently to the downside.”
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