IEA Warns Oil Glut Will Be Worse Than Expected ...Middle East

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IEA Warns Oil Glut Will Be Worse Than Expected
source : OILPRICE ( Middle East ) () 69
The surplus on the oil market next year will be even higher than previously expected, the International Energy Agency (IEA) said on Thursday, as it raised both its demand and supply growth estimates.  “Global oil market balances are looking increasingly lopsided, as world oil supply is forging ahead while oil demand growth remains modest by historical standards,” the IEA said today in its closely-watched monthly report on the oil market.  The agency revised up slightly its 2025 demand growth estimate, to 790,000 barrels per…

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