"The global oil market is relatively well-supplied, with demand growth decelerating, while supply shows an increase in America," said Toril Bosoni, head of the oil markets and industry division at the International Energy Agency (IEA), to Reuters.
"Depending on the pace of future oil demand growth, the strength of summer demand, any unexpected disruptions, we see the market relatively well-supplied this year," Bosoni added on the sidelines of an industry conference in Oslo.
Therefore, the IEA anticipates "relatively calm markets," despite the recent decision by OPEC to extend supply cuts, he further noted.
