Providence Resources - IEA - 3rd quarter stock build slows...

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IEA
18:40 13/11/2015
Spuddy
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3rd quarter stock build slows to 1.6m per week in 2015. Demand 2016 To grow 1.2m yoy per day down from 1.5m. Non OPEC to drop By at least 600k per Day. If Iran comes back And enters the Market and manages yo reach 500k sometime in 2016 That means We are in a situation where supply Is Just slightly ahead of demand. With demand to rise in 2017 again and the natural decline of conventional Oil wells averaging 6.5 % market should balance 2016/2017. Believe Oil to rise late 2016-2017

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