IEA confirms non-OPEC producers take bigger share of global market

The International Energy Agency has confirmed that nations outside the Organization of Petroleum Exporting Countries have taken a larger share of the world oil market.IEA, based in Paris, also said oil inventories rose to their highest level in 2 years during October.IEA reported that while stocks usually fall in the fourth quarter as a result of increased heating oil use, they rose 220,000 b/d during October to 2.65 billion bbl in the 26 countries that are members of the Organization for Economic Cooperation and Development.IEA said stocks are now 4.7% higher than a year ago and that the major economies probably will get through the coming winter without having to face oil price rises."S...

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