Despite Iran and Venezuela sanctions, OPEC output cut the oil market was still in surplus in H1CY2019. Is the US really pumping out that much oil, or is it the weak demand scenario? While the US is pumping out enormous quantities of oil and shale do you think the oil market is failing to recognize the huge difference in the quality and this surplus may as well be unusable by many? Watch Fatih Birol, Executive Director, International Energy Agency exclusively on ET NOW.
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