- Global oil demand grew very strongly year-on-year in 2Q17, by 2.3 mb/d (2.4%). For 2017, we have revised upwards our growth estimate to 1.6 mb/d
- Global oil supply fell by 720 kb/d in August due to unplanned outages and scheduled maintenance, mainly in non-OPEC countries
- OPEC crude output fell in August for the first time in five months, after renewed turmoil in Libya disrupted flows and others pumped less.
- OECD commercial stocks were unchanged in July at 3 016 mb, when they normally increase. The surplus over the five-year average fell to 190 mb.
- Hurricane Harvey impact likely to short-lived