IEA sees oil market balance

IEA sees oil market balance

The oil market is "very close to balance", according to the International Energy Agency (IEA), suggesting producers have largely benefited from Opec's decision to cut supply. In its half-time report on the cartel's cuts to production, the agency cited impressive compliance from the cartel's members, unplanned outages and rising political tension as contributors to prices that have largely traded above $50 (£39) a barrel since the beginning of the year.

To continue reading, register today

to enjoy limited access to the following:

  • Daily trading news
  • Funds coverage
  • Features on big investment themes
  • Comprehensive companies coverage
  • Economic analysis
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now