✂ Fed’s first rate cut since 2020: Use our free Stock Screener to find new opportunities fastExplore for FREE

IEA sees higher prices encouraging

Published 19/01/2017, 11:06

Investing.com - The IEA Thursday said higher oil prices on output cuts could encourage "leaner and fitter" shale producers.
The IEA said U.S. shale producers' productivity has improved by "leaps and bounds."
In its monthly report, the IEA also pointed to planned projects in Brazil and Canada coming onstream.
However, it highlighted recent comments by Saudi Energy Minister Khalid al-Falih on the output cut agreement.
Al-Falih said six-month OPEC, non-OPEC producers' accord to cut output by 1.8 mn bpd "unlikely" to be extended.
The IEA suggested this was aimed at capping prices to prevent "another bonanza" for high-cost producers.
It said it is still too early to gauge the level of compliance with the cuts.
The IEA cut its forecast for 2017 global oil demand growth to 1.3 mn bpd from 1.5 mn in 2016 on price and dollar gains.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.