OPEC Secretary General Haitham alGhais rejects IEA warning of an oil supply glut

OPEC Secretary General Haitham alGhais on Thursday rejected the International Energy Agency’s forecast that oil markets could face a supply glut. He said such assumptions are not grounded in “facts and figures,” speaking to CNBC. The IEA has argued that a lasting peace deal between the U.S. and Iran would lift oil supply volumes and spur a sizeable market surplus. AlGhais added that public statements of that kind can fuel additional market volatility.