IEA out with their latest forecasts and September numbers
– Forecasts 2015 oil demand growth +60bpd to 1.77m. 5 year high
– Cuts 2016 by 150kbpd to 1.21m
– Raises non-OPEC output by 150k for 2015 and 110k for 2016 on supply from Russia, Brazil and Canada
Brent sits on the lows following yesterday’s drop