Yhn EnvironmentEnergy first seen 3 d ago, last 1 h 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 has warned that the global oil market could face an oversupply of as much as 4 million barrels per day, creating a glut that would weigh on prices. The forecast has drawn attention amid expectations of rising production and softening demand growth, with analysts debating what sustained surplus conditions would mean for producers, oil-revenue-dependent economies and consumers.
Why now: Concerns about a looming oil surplus and falling prices are topical as production rises and demand growth slows.
International Energy AgencyOPECoil market
Evidence
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