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FINANCIAL NEWS
Saudi Arabia excludes US as biggest oil producer, IEA says
14 Sep 2016
(MENAFN) After the world’s oil consumers and producers reviewed expectations that signaled the global crude oversupply persisting for much longer than expected.
The International Energy Agency (IEA), advised oil-consumers on their energy policies, and said a slowdown in oil demand growth, which means the market will be oversupplied through H1 of 2017.
Also, Commerzbank head of commodities strategy Eugen Weinberg said: “It seems the situation has deteriorated strongly in the eyes of OPEC, as well as the IEA.”
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