OPEC+ Sees Oil Markets Tightening This Fall

Despite the COVID resurgence, the oil market will become increasingly tight this year, OPEC+ estimates show, but as the group continues to ease the production cuts into next year, the balance will tip into surplus again in 2022. Global inventories are set to dwindle by 825,000 barrels per day (bpd) over the next four months, according to an OPEC+ estimate expected to be presented at the alliance’s Joint Technical Committee (JTC) meeting on Tuesday, Bloomberg reports, citing a source familiar with the data.

The JTC meeting today takes stock…