Latest OPEC monthly report
– Cuts 2016 global oil demand forecast by 50k to 1.29mbpd
– Raises 2016 OPEC demand by 190kbpd to 30.31mbpd
– Non-OPEC supply growth -100kbpd to 160kbod
It looks like OPEC is sticking with its strategy of waiting for the US to fold before it decides to change its production