Oil market can be limited in 2018

According to the head of the International Energy Agency (IEA), Fatih Birol, if the oil demand remains vigorous and the producers continue to follow production policies, the world market can be tightened in the second half of 2018.

If the forecast is complied with, the oil market may be in deficit, above all, with the extent of the oil cuts which must be perpetuated for a few more months, if OPEC members approve continuity next Thursday.

According to Birol, there is a strong demand growth and if the producers continue to comply with their policies, the market can be tightened. For the executive, it's up to the OPEC members to decide. The market has given signs of rebalancing and that positivity can be seen through the prices of the barrel that currently is above $ $60.

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