Commodities-Oil

IEA's Monthly Oil Report

COMMODITIES

IEA says:
- Global oil demand in 2012 is expected to rise by 1.5 MBPD year-on-year to 91.0 MBPD.
- Global refinery throughputs are set to increase by 2.3 MBPD to 75.9 MBPD from Q2 2011 to Q3 2011.
- IEA says world oil demand growth to accelerate to 1.47MBPD in 2012 led by emerging economies
- IEA says OPEC is likely to struggle to maintain oil capacity until Libyan supply starts to recover in H2 2012; sees OPEC capacity low point in Q1 2012
- IEA trims 2011 global oil demand growth forecast to 1.20MBPD, down 70,000 BPD from prev. forecast on high prices and weak economy.
- IEA says it takes a positive view of strategic oil reserves release, says has added liquidity to tight market