The International Energy Agency on Friday raised its estimate of the increase in non-OPEC oil supply this year on the back of supply surges from Russia and the US and said participants in last month’s cut agreement had “their work cut out.” Receive daily email alerts, subscriber notes & personalize your experience. Register Now In its monthly oil market report, the IEA shunted upward its non-OPEC supply growth number for 2019 to 1.6 million b/d, from 1.5 million b/d in last month’s report. It raised its estimate of the US’ crude output growth this year to 1.1 million b/d, from 1 million b/d in last month’s report, adding that US crude output would probably be higher than the production capacities of Russia and Saudi Arabia by mid-year. In its commentary, the IEA questioned Russia’s commitment to implementing supply cuts agreed with OPEC in Vienna in December, given […]