IEA Sees 1Q Oil Supply and Demand 'Closely Matched'

The video discusses the anticipated balance between supply and demand in the oil market for early 2019, assuming OPEC and non-OPEC production cuts are implemented. It highlights the potential for a market deficit and the likelihood of maintaining current demand forecasts despite economic headwinds. The IEA notes possible downside risks due to factors like trade disputes and weaker consumer confidence. OPEC's willingness to consider deeper production cuts is also examined, with a focus on market balance and price targets.

When is the oil market expected to move into a deficit according to the current numbers?

• First quarter of 2019

• Second quarter of 2019

• Third quarter of 2019

• Fourth quarter of 2019

What is the likelihood of changes to the global oil demand outlook?

• Unlikely to change

• Highly likely to decrease

• Equally likely to increase or decrease

• Highly likely to increase

Which factors are considered headwinds for the global oil demand?

• Trade disputes and economic slowdowns

• Technological advancements

• Rising oil prices

• Increased consumer confidence

What has provided some relief to consumers in the oil market?

• Increased production

• Decreased demand

• Significant price drops since October

• Government subsidies

What is OPEC considering to maintain market balance?

• Setting a fixed price

• Expanding membership

• Deeper production cuts

• Increasing production