Energy OverView September 11, 2014

Oil prices continue to plummet. This morning the IEA was the latest to cut its demand forecast, citing a remarkable slowdown in the second quarter that has caused Saudi Arabia exports to fall to their lowest level in three years. The IEA cuts its call on OPEC to 29.2 million bpd next year, which was a reduction of 200k bpd. To put that in perspective, OPEC is currently producing just 30 million bpd