Supply is back in the driver’s seat for global oil markets.
At issue is rising crude production from non-OPEC+ nations including the US, which could outstrip global demand that’s still growing but at a slower pace. The oil cartel’s response has been to pledge deeper output cuts, but traders are skeptical they’ll be sufficiently implemented to fully eliminate a surplus.
"Oil" - Google News
January 04, 2024 at 09:16AM
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Oil's Ample Supply Has Analysts Predicting Tough Year for Crude - Bloomberg
"Oil" - Google News
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