Oil markets will come back into balance by 2017:IEA
Birol said Iran’s crude oil exports could rise by half a million barrels per day this year following the removal of sanctions as Iran is determined to increase its production to pre-sanctions level in spite of low prices. Meanwhile, he expects non-OPEC oil supply to contract by almost 700,000 barrels per day, indicating the largest decline in non-OPEC supply for the past 25 years.
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