Leaky Opec Adds to January Supply Rise

Summary
Oil markets have begun the new decade in much the same condition they ended the old one -- with too much oil chasing too little demand. Global oil supply averaged 87.063 million b/d in January, according to preliminary PIW soundings, up 163,000 b/d from a sharply downward-revised figure of 86.900 million b/d in December, and some 2.26 million b/d higher year-on-year.

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