Thursday 20 February 2020
 
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Oil glut

Opec ‘Mission Accomplished’ as oil glut vanishes, says IEA

The Organization of Petroleum Exporting Countries (Opec) is on the verge of “mission accomplished” in its quest to clear the global oil glut that caused the worst industry downturn in a generation, reported Bloomberg, citi

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Global glut to temper oil price gains this year: poll

Global oversupply in crude oil is likely to limit price gains this year despite a series of unplanned outages and shrinking US shale production, a Reuters poll showed. Wildfires in Canada, political unrest in Venezuela and supply

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Oil glut ‘to stay as demand growth slows’

A global oil supply glut will persist through 2016 as demand growth slows from a five-year high and key Opec members maintain near-record output, the International Energy Agency said, even as low prices curb supply outside the producer group.

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