Tag: global oil

Global oil markets won't be as tight as expected this quarter, as upward revisions to demand are outpaced by upgrades to supplies, the International Energy Agency (IEA) said.The IEA boosted forecasts for world fuel consumption this year on surprising strength in China, and still anticipates a supply shortfall during the fourth quarter. But it will be roughly 30% smaller than previously projected, at about 900,000 barrels a day."World oil demandcontinues to exceed expectations," the Paris-based agency said in its latest monthly report.Yet "world oil supply growth is also...