Global oil market faces a million-barrel glut next year, says IEA
Supply from the U.S., Brazil, Canada and Guyana is set to grow Oil drums sit stacked in a warehouse at Jacobi Oil Service, Inc. in Floyds Knobs, Ind. Global oil markets are facing a surplus next year as Chinese demand continues to falter.Photo by Luke Sharrett /Bloomberg It’s possible that China’s oil demand has peaked, … Read more