The Global Oil Glut Returns as High Prices Crush Demand
OilPrice.com · Irina Slav ·
The global oil market is shifting toward oversupply as elevated prices suppress demand and recovering Middle Eastern exports boost supply, although geopolitical risks continue to support prices.
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The global crude oil market is moving back towards oversupply, according to analysts from Goldman Sachs and JPMorgan, with demand destruction from high prices causing fears of a deficit to fade and concerns of a glut to rise.
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