IEA releases Oil Market Report for September

The IEA Oil Market Report (OMR) for September trimmed global oil demand growth for 2014 and 2015 to 0.9 million barrels per day (mb/d) and 1.2 mb/d, respectively, because of a pronounced slowdown in demand growth in the second quarter of this year and a weaker outlook for Europe and China. Demand in 2015 is now set at…

UPI: Iran vetting oil customers

Countries willing to buy oil from Iran usually don’t have enough money in their federal energy coffers to buy it, the Iranian oil minister said. Iran can sell about 1 million barrels of oil per day on the international market under the terms of an agreement reached with Western powers in exchange for a commitment…

IEA: Oil Market Report for August

The IEA Oil Market Report (OMR) for August lowered its 2014 global oil demand growth forecast to 1.0 million barrels per day (mb/d) on lower‐than‐expected deliveries in the second quarter and the International Monetary Fund’s weaker outlook for economic growth. But as the economy improves in 2015, demand is set to accelerate by 1.3 mb/d…