IEA: World oil supply under strain as growth lags

LONDON: Disappointing oil output growth outside the Organisation of Petroleum Exporting Countries (Opec) is threatening to put world supplies under renewed strain this year, the International Energy Agency (IEA) said. 

The international adviser on energy policy to industrialised nations has cut its forecast for non-Opec supply growth by 175,000 barrels per day (bpd) to 910,000 bpd, pointing to prolonged disruptions in Organisation for Economic Cooperation and Development (OECD) producers and lower expectations for Russia.