US EditionThe Iea Warns of the Growing Imbalance in the Oil Market Due to Opec+'s Boost to Supply
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Pressure on the oil market. What happens with prices. The global oil market enters a new stage of uncertainty, marked by major imbalances between supply and demand. The most recent report of the International Energy Agency (IAA) takes on a worrying reality: production increases at an accelerated rate, while the demand remains much below [...]
The imbalance in the world oil market risks worsening as a result of the acceleration of pumping in the producing countries, especially following OPEC+'s decision to reverse its voluntary restrictions in advance, while the growth of global demand for crude oil will be even less vigorous than previously anticipated, as stated by the International Energy Agency (IEA) in its monthly August newsletter.
Oil market imbalance set to increase as rising supply outpaces demand growth - EnviroNews - latest environment news, climate change, renewable energy
Oil prices have been caught in the crosshairs of fast-changing market dynamics. While new sanctions on Russia and Iran threaten to impact trade flows, weaker economic growth is poised to temper demand. Volatility in oil markets slumped to near all-time lows in July as Brent crude oil futures hovered around $70/bbl. However, the early August OPEC+ supply agreement and the prospects for untenable stock builds later in the year saw Brent crude futu…
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