Oil glut may ease as non-OPEC supply drops: OPEC
The Organisation of the Petroleum Exporting Countries (OPEC) has said the global crude oil oversupply over the past year may ease in 2017 owing to a production drop in non-OPEC countries. This is based on “lower expectations for crude oil production from China, Brazil, India and Vietnam, which outweighs total upward revisions in the UK and Russia”, it added.