Somebody Big Has Called This Year’s Oil Market Completely Wrong
OPEC sees output cuts draining inventories, others disagree
Are oil stockpiles falling or rising? It depends whose data you believe
Photographer: Bloomberg/BloombergThis article is for subscribers only.
The world’s three biggest oil-market forecasters are split on what’s going to happen with supply and demand this year — and at least one of them is going to be proved flat wrong.
That’s the bottom line from a comparison of supply-and-demand forecasts provided by OPEC, the International Energy Agency in Paris, and the U.S. Energy Information Administration. The Organization of Petroleum Exporting Countries agreed in December to deepen output curbs until the end of March.