The International Energy Agency said in a Friday report it had downgraded its 2019 supply growth forecast for the countries that are not members of the Organization of the Petroleum Exporting Countries (OPEC) by 70,000 barrels daily to 1.88 million barrels per day
MOSCOW (Pakistan Point News / Sputnik - 09th August, 2019) The International Energy Agency said in a Friday report it had downgraded its 2019 supply growth forecast for the countries that are not members of the Organization of the Petroleum Exporting Countries (OPEC) by 70,000 barrels daily to 1.88 million barrels per day.
"For the year as whole, non-OPEC supply growth has been revised marginally lower, to 1.9 mb/d, on a slightly weaker forecast for Brazil. However, growth accelerates to 2.2 mb/d in 2020 as Brazil picks up speed and new projects start up in Norway and Guyana," the report read.
