Latest OPEC monthly oil market report now out
- OPEC October crude fell 256k bpd to 31.38mln bpd
- 2016 non-OPEC supply seen contracting by 130k bpd ( unchanged from prev report)
- expected 2016 non-OPEC drop is first since 2007 and leaves a "gaping supply hole" in the market
- 2016 oil surplus seen narrowing to 560k bpd vs 750k prev forecast
- 2016 crude demand forecast unchanged at 30.82 mln bpd
Full report here
Earlier Ryan reported on the Saudi pumping in an extra 50k bpd
