Despite production restrictions, the global oil market will face a daily surplus of one million barrels next year. This will happen even if the OPEC+ oil cartel decides to maintain current production restrictions, the International Energy Agency (IEA) reports. China is one of the key reasons for the expected surpl... #GlobalOilPrice #IEA #oilmarket #OilProduction #OPEC
Oil became cheaper after the price spike at the end of July. Oil prices eased slightly on August 1 after rallying in July amid supply cuts from OPEC+ and positive macroeconomic statistics from the world’s largest economies. The October futures price for B... #GlobalOilPrice #oilfutures #OPEC
The price of oil is falling amid expectations of Biden’s announcement to suspend the fuel tax. Oil prices fell more than $6 a barrel in response to US President Joe Biden’s lobbying to lower rising fuel prices, including pressure on the country’s primary energy companies. Futures f... #GlobalOilPrice #GrudeOil #JoeBiden #OilPrices #OliPrices2022
