The Oil Market Surplus May Be Smaller Than Feared

Oil market forecasters such as the International Energy Agency IEA may have been too pessimistic about supply-demand balances in their latest assessments, which show a large surplus for 2025. Actual global oil inventory trends in the third quarter look much more bullish than the IEA's balances and projections, the agency's latest oil market report showed.

oil products and non- crude oil stocks, the IEA said. industry stocks fell by 36.4 million barrels to 2.8 billion barrels, which was 95.3 million barrels below the five-year average. Provisional data suggest total global stocks decreased for a fifth consecutive month in October, according to the IEA. Related Is The U.S. Going To Bring This Multi-Billion Iraq Project To Fruition Preliminary data for the third quarter showed that global oil stocks fell at a rate of around 1.16 million bpd.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

IEA Warns of Oil Market Surplus Amid Weak Demand in 2025The IEA has revised its global oil demand growth forecast upwards for 2024 but warns of weak demand and a potential supply overhang in 2025.
Source: OilandEnergy - 🏆 34. / 68 Read more »

Oil Market News Oil Prices Jump as OPEC Delays Output HikeOil prices jumped in early trading on Monday as OPEC delayed its planned production hikes yet again.
Source: OilandEnergy - 🏆 34. / 68 Read more »

War Premium Returns to Oil Market After Biden's Ukraine DecisionThe possibility of Ukraine using US-made weapons to strike Russia raises war fears and pushes oil prices higher.
Source: OilandEnergy - 🏆 34. / 68 Read more »

India Calls for Producers-Consumers Dialogue to Reduce Oil Market VolatilityIndia is urging oil producers and consumers to hold talks to stabilize oil prices amid rising volatility.
Source: OilandEnergy - 🏆 34. / 68 Read more »