World's oil cushion could be stretched to the limit, IEA warns

World News: . []

The world's oil supply cushion could be stretched to the limit due to prolonged outages, supporting prices and threatening demand growth, the International Energy Agency (IEA) said on Thursday. The expected drop in Iranian crude exports this year due to renewed US sanctions, coupled with a decline in Venezuela's production and outages in Libya, Canada and the North Sea have driven oil prices to their highest since 2014 in recent weeks.

Read More: http://www.engineeringnews.co.za/article/worlds-oil-cushion-could-be-stretched-to-the-limit-iea-warns-2018-07-12

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