International Energy Agency out with their monthly bulletin 13 April

  • global demand estimate for 2017 could prove optimistic as slowdown in OECD nations deepens
  • raises f/cast for non-OPEC supply growth to 485k bpd in 2017 vs 400k prev
  • can be argued confidently that oil market is already close to balance

Sound like suitably dovish tones to me but oil unfazed albeit already its session highs.

Full IEA report here at some point.