IEA's January "Oil Market Report"

[dan_s]

Read the summary here: https://www.iea.org/oilmarketreport/omrpublic/

Not much new since last month except a clear sign that OPEC is cutting output and the global oil markets are on their way to balancing. Note in the chart near the bottom that IEA predicts demand for oil will exceed supply in Q2 2019.

[ChuckGeb]

I read a report in Financial Times this week that Iranian exports are down to 1.1 million bbls a day which seems to me like a big deal. I have not seen anyone else pick up on it though. I have you seen any similar reports?

[dan_s]

Yes, that is a good number. Iranian exports will continue to decline as the six month waiver period approaches. Those waivers end in early May.