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IEA: Arab rift is causing problems

Published 06/14/2017, 05:22 AM
© Reuters.  IEA: Arab rift is causing problems
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  • The ongoing dispute between several Middle East countries and Qatar is causing "logistical headaches", the IEA warned in its latest oil market report.
  • "Abu Dhabi swiftly enforced a ban on oil tankers linked to Qatar... which could lead to a backlog of cargoes and increased shipping costs."
  • What about supply cuts? "Output from members bound by the production deal edged lower, which kept year-to-date compliance strong at 96%."
  • Crude futures -1% to $46/bbl.
  • ETFs: USO, OIL, UWT, UCO, DWT, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, OILK, WTIU, OILX, WTID, USOI
  • Now read: 'Rogue' Oil Producers Eating Saudis' Lunch


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