Gunvor Chief Says Oil Oversupply Is Finally Taking Shape ...Middle East

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Gunvor Chief Says Oil Oversupply Is Finally Taking Shape
source : OILPRICE ( Middle East ) () 46
An oil surplus long prophesied by traders may finally be materializing, according to Gunvor Group CEO Torbjörn Törnqvist, who says the market is shifting from tightness to glut—though not everyone is buying the narrative just yet. “It looks like we are now moving into a bit of a different market,” Törnqvist told Bloomberg in London. “We have heard it before and people have been burned on that. But this time around at this stage I think there’s a bit more substance in the oversupplied narrative.”…

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