Global oil markets are likely to remain “calm” next year as soaring production outside OPEC and high inventories keep consumers comfortably supplied, the International Energy Agency said.
Supplies outside OPEC -- driven by the U.S., Brazil, Norway and Guyana -- will increase by 2.3 million barrels a day in 2020, almost twice the expansion in world oil demand, the agency said in its monthly report. The growth estimate is about 100,000 barrels a day higher than last month.
