Its December oil market report predicts a jump of 1.2mbarrels per day (bpd) in worldwide requirements next year to 92.4m bpd, giving further cause for optimism in the improving tanker sector.

November supplies rose year-on-year by 810,000 bpd, boostedby non-Opec production.

Opec output was down by 160,000 bpd in November to 29.73mbpd, its fourth consecutive monthly decline.

The IEA said disruption in Libya was largely to blame,with exports also dropping in Nigeria, Kuwait, the United Arab Emirates andVenezuela.

Iran, Iraq and Angola pumped more crude, however.