0 million barrels a day in the first five months of 2015

0 million barrels a day in the first five months of 2015

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Supply grew by 1.0 million barrels a day in the first five months of 2015, down from 1.8 million last year.The world’s oil demand will finally slow down in 2016, the agency said, but not enough to offset the world’s growing oil glut.”The rebalancing that began when oil markets set off on an initial 60 percent price drop a year ago has yet to run its course,” the report said.The agency sees demand slowing to 1.2 million barrels a day next year, from an average 1.4 million barrels a day in 2015.Oil prices dropped below $51 a barrel earlier this week, the first time since early April, down from the highs of $107 a barrel last summer. Oil was trading at $53.2 per barrel on Friday morning.CNNMoney (London) First published July 10, 2015: 6:34 AM ETContact UsClosed CaptioningSite MapMost stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by https://www.canadagoosediscounts.com two minutes.