Global oil supply to shrink sharply because of latest price tumble, energy agency says

September 11, 2015 10:15 AM

16 0

PARIS – The International Energy Agency forecasts a sharp drop in oil supply from the United States, Russia and other non-OPEC countries because of continued low oil prices.

In its monthly forecast Friday, the IEA says non-OPEC production is expected to drop nearly half a million barrels per day to 57.7 million barrels a day, calling it the biggest decline in over two decades.

Also read: The Latest: France Warns Up to 1 Million Could Flee Mosul

Read more

To category page