© Reuters. FILE PHOTO: An oil pump of IPC Petroleum France is seen throughout sundown outdoors Soudron, close to Reims, France, February 6, 2023. REUTERS/Pascal Rossignol/File Photo
OSLO (Reuters) – The international oil market will see a slight surplus of provide in 2024 even when the OPEC+ nations prolong their cuts into subsequent yr, the top of the International Energy Agency’s (IEA) oil markets and trade division advised Reuters on Tuesday.
At the second, nevertheless, the oil market is in a deficit and shares are declining “at a fast rate”, Toril Bosoni mentioned.
“Global oil stocks are at low levels, which means that you risk increased volatility if there are surprises on either the demand side or the supply side,” she added.