Oil Supply Surplus Concerns Pull Prices Down Says Tyler Richey
Concerns over a supply surplus help pull oil prices to their lowest in 3 weeks
A monthly report from the Organization of the Petroleum Exporting Countries released Wednesday revealed a “fresh jolt of supporting evidence that the market is already in a physical surplus dynamic that is poised to worsen into 2026,” said Tyler Richey, co-editor at Sevens Report Research.
That comes as “global production is trending higher while demand growth is flattening out,” he said.
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