IEA Sees Oil Glut Easing

  • Saudi Arabia, Kuwait, U.A.E. produce at all-time highs in July
  • Record demand from refiners to erode bloated stockpiles

Fitch: European Oil Majors Unlikely to Balance Cash Flows

Global oil markets will continue to re-balance this year as a pick-up in demand from refiners absorbs record output from several Persian Gulf producers, the International Energy Agency predicted.

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