IEA: global crude oil demand will grow by 1.5 mbpd in 2018

In its monthly bulletin, the International Energy Agency (IEA) said that global crude oil demand will grow by 1.5 mbpd in 2018 vs 1.3 mbpd in 2017.

Additional headlines:

   •  Global crude demand to average a record 99.27 mln bpd in 2018 vs 97.84 mln bpd in 2017, to top 100 mbpd by Q4 2018
   •  Non-OPEC crude supply growing by 1.5 mbpd in 2018 vs 660,000 bpd in 2017, driven by U.S., Brazil, Canada
   •  IEA cuts implied crude oil market deficit to 500,000 bpd in Q2 2017 from previous estimate of 700,000 bpd
   •  OECD oil stocks rose in April by 18.6 mln bbls to 3.045 bln bbls, 292 mln bbls above 5year average