LONDON, Feb 11 (Reuters) - Global oil supply still outstrips
demand due to persistent COVID-19 lockdowns and the spread of
variants, the International Energy Agency (IEA) said on
Thursday, but vaccines should help demand recover and soon
enable producers to pump more.
"With demand forecast to rise strongly and still modest
growth in non-OPEC supply expected, a rapid stock draw is
anticipated during the second half of the year."
"That sets the stage for OPEC+ to start unwinding cuts."