Oil below $45 a barrel

Oil fell back on Wednesday as a result of negative inputs from the IEA. After publishing moderately optimistic forecasts of "balancing" the market in recent months, the International Energy Agency has expressed concerns that this may take longer because of the accumulated record stocks.
The report comes the same week in which OPEC published its monthly report on the state of the market. It caused serious sales of the raw material as a result of the data that the cartel has increased its production last month. The OPEC report also concludes that the market is recovering at a "slower pace" than expected.
The reason for the depreciation of "black gold" in recent weeks is the growing US state producer and US oil stocks, the weaker demand for gasoline.
At a level of 292 million barrels, oil reserves in the US are significantly above the average for the past five years.