IEA Sees 'Mission Accomplished' For OPEC, Russia As Oil Supply Drops

The International Energy Agency said Friday that global oil inventories are set to drop below a key benchmark soon, a sign that OPEC and top non-members are nearing the goal of their production cuts.

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In its monthly report, the IEA said it expects global stockpiles to fall below the five-year average in a "month or two" as inventories are seen falling by 600,000 barrels per day until the end of the year.

OPEC and key non-OPEC members like Russia had agreed to curb output by 1.8 million...

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