Good indicators for oil in 2017

According to the International Energy Agency (IEA), the oil market could start to return to equilibrium from 2017. In its monthly report on petroleum Agency said that if OPEC and outside OPEC countries implement strictly its production reduction agreement, the reserves will begin to download during the first quarter of next year.

The Agency, which represents consumer countries, estimates that the reduction in production may reach 0.6 million barrels per day (mbd).

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