LONDON – Oil stayed within striking distance of yesterday’s US$65 (N$416) record high after a top energy body said non-OPEC output was falling short of expectations.
The International Energy Agency, adviser to 26 industrialised nations, also nudged up its world oil demand growth forecasts for this year and next, leaving already stretched OPEC to fill the supply void. The IEA report came on the heels of US stock data on Wednesday that showed another fall in gasoline inventories in the world’s biggest consumer, and news of less oil from the North Sea Brent field in September.-Nampa-ReutersThe IEA report came on the heels of US stock data on Wednesday that showed another fall in gasoline inventories in the world’s biggest consumer, and news of less oil from the North Sea Brent field in September.-Nampa-Reuters
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