Post Tagged with: "Oil surplus"

Source: Reuters

Oil slides 2% as surplus forecast overshadows Libya disruption

Reuters


NEW YORK (Reuters) – Oil prices fell more than 2% on Wednesday as a market surplus forecast by the International Energy Agency (IEA) and demand worries outweighed concern over disruptions to Libya’s crude output.

Brent crude LCOc1 was down …

Source: Sweetcrudereport.com

Global Economic Slowdown Reducing Oil Demand

By Tyler Losier, Energy Reporter, Oil & Gas 360

Supply deficit quickly flipped to surplus: International Energy Agency data now shows 500,000 barrel per day global surplus for Q2 2019
Despite the OPEC+ supply cuts agreed upon earlier this month,

Oil Surplus Smaller than Expected, but Downward Pressure on Prices Remain – IEA

Oil Surplus Smaller than Expected, but Downward Pressure on Prices Remain – IEA

Oil surplus about 40% smaller than thought a month ago

The global glut of oil is shrinking, and the oil surplus is smaller than it was believed to be a month ago, according to the IEA’s June Oil Market Report