​IEA Sees “Sizeable Surplus” In Oil Market As Demand Growth Slows – Tyler Durden

IEA Sees “Sizeable Surplus” In Oil Market As Demand Growth Slows By Tsvetana Paraskova of OilPrice.com The oil market faces a sizeable surplus next year amid ample supply and slowing demand growth, the International Energy Agency (IEA) said on Tuesday as it further lowered its demand growth estimate for 2024. Global oil demand is set to increase by just 862,000 barrels per day (bpd) this year, amid decelerating consumption growth in China, the agency said in its closely-watched Oil Market Report today. The latest estimate is a downgrade from the 903,000 bpd growth in global oil demand expected in last…  — Continue at ZeroHedge News : Read More