Global oil stocks are set to rise faster than previously expected, according to an internal report prepared for the technical committee meeting of the OPEC+ group seen by Energy Intelligence. The report, prepared for the meeting of the Joint Technical Committee (JTC)—expected on Wednesday—shows that OPEC+ expects global oil supply to exceed demand by as much as 3 million barrels per day (bpd) during the first quarter of next year, according to the document seen by Energy Intelligence.
The report analyzed oil market conditions before…OPEC+ Expects Global Oil Inventories To Surge
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