Oil's Ample Supply Has Analysts Predicting Tough Year for Crude - Bloomberg

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.

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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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