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.

How does the speaker describe the process of the market moving into balance?

What has OPEC indicated regarding production cuts?