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Oil markets less tight than expected as supply climbs, IEA says - BBG
#OIL MARKETS LESS TIGHT THAN EXPECTED AS SUPPLY CLIMBS, IEA SAYS - BBG
— Christophe Barraud (@C_Barraud) November 14, 2023
*GLOBAL OIL SUPPLY TO ADD 1.7M B/D TO RECORD 101.8M IN '23: IEA
*GLOBAL OIL DEMAND TO GROW 2.4M B/D TO 102M B/D IN 2023: IEA
*GLOBAL OIL DEMAND GROWTH TO SLOW TO 930K B/D IN 2024, IEA SAYS
*OIL SUPPLY TO…
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Oil Market Report - November 2023
Chinese oil demand rose to another record high of 17.1 mb/d in September, underpinning global growth. China is set to account for 1.8 mb/d of the total 2.4 mb/d increase that lifts demand to 102 mb/d in 2023. Overall growth is expected to slow to 930 kb/d in 2024. In the OECD, economic headwinds are increasingly apparent, with this year’s slim demand gains giving way to a contraction in 2024. World oil output increased by 320 kb/d in October to 102 mb/d. Growth in the United States and Brazil is outperforming forecasts, helping to propel global supply higher by 1.7 mb/d to a record 101.8 mb/d in 2023. Non-OPEC+ ... (full story)