Yhn EnvironmentEnergy first seen 3 d ago, last 18 min ago, peak #8

IEA warns of potential 4 million barrel-a-day oil glut

Original: Oversupply of oil could create glut of 4M barrels a day, says energy watchdog

The International Energy Agency warns that global oil markets could face a surplus of up to 4 million barrels per day, a glut on the scale seen during the 2020 pandemic downturn. The agency points to booming supply from producers including the US, Brazil and OPEC+ members running ahead of weak demand growth. Commentators are weighing what the oversupply could mean for oil prices and producing economies.

Why now: A new IEA outlook warning of a large oil surplus has implications for prices, energy stocks and OPEC policy.

International Energy AgencyOPEC+United StatesBrazil

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• Oversupply of oil could create glut of 4M barrels a day, says energy watchdog · xbmcuser · 8

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