China's weak economy and record US production will lead to a surplus of one million barrels of oil a day next year, IEA says

Oil markets are facing a supply glut, with non-OPEC producers on track expand production by 1.5 million barrels of oil a day, the IEA said,

By: Business Insider

Nov 21 2024
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China's weak economy and record US production will lead to a surplus of one million barrels of oil a day next year, IEA says — China's weak economy and recor

The oil market could see a major supply glut in 2025 thanks to booming production from non-OPEC states like the US and sagging demand in China, according to the International Energy Agency. The IEA … [+1768 chars]

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