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According to foreign media on July 16, crude oil futures fell in Asian trading around 10 a.
m.
on Monday as Libya lifted its force majeure late last week to ease supply tensions, although the market expects OPEC to hold a technical meeting on Wednesday to track
the quotas of individual producers.
"Oil price volatility is expected to intensify as the global oil market could flip from a global oversupply to a global supply shortage at every turn," Phil Flynn, an analyst at Price Futures Group, said
in a note.
"The market is trying to assess whether more oil resources will allow us to reach daily global oil production that is once again ahead of our daily consumption," he added
.
According to foreign media on July 16, crude oil futures fell in Asian trading around 10 a.
m.
on Monday as Libya lifted its force majeure late last week to ease supply tensions, although the market expects OPEC to hold a technical meeting on Wednesday to track
the quotas of individual producers.
"Oil price volatility is expected to intensify as the global oil market could flip from a global oversupply to a global supply shortage at every turn," Phil Flynn, an analyst at Price Futures Group, said
in a note.
"The market is trying to assess whether more oil resources will allow us to reach daily global oil production that is once again ahead of our daily consumption," he added
.
