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OPEC+ expects the global oil market to be surplus again in 2022

 Last Update: 2021-09-30
 Source: Internet
 Author: User

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According to Bloomberg News, OPEC+ expects that while resuming production, the global oil market will continue to be tight this year, but the global oil market will be surplus again by 2022
.

Data shows that in the rest of this year, even if OPEC+ continues to implement the agreement to increase oil by 400,000 barrels per month, global fuel inventories will continue to decline
.

In the next four months, global fuel inventories will decrease at an average rate of 825,000 barrels per day

However, these figures show that as Saudi Arabia and its partners gradually adjust their production reduction plans, they will face new challenges in 2022
.

It is expected that from January next year, the global oil market will resume oversupply

It is estimated that the global daily oversupply will reach 2.

5 million barrels next year, leading to an increase of 913 million barrels in inventories

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