Business, Fuel

Oil Declines as OPEC’s Supply Is Seen at Highest Level This Year

Oil ship Shawn Baldwin

Oil declined after tanker-tracker Petro-Logistics SA said OPEC’s supply in July will be the highest this year.

Angelina Rascouet | Bloomberg News
July 21, 2017

Oil Glut Will Persist Into 2017 as IEA Sees Prices Capped

Brittany Sowacke/Bloomberg News

The global oil glut will persist into 2017, limiting any chance of a price rebound in the short term as the surplus takes even longer to clear than previously estimated, according to the International Energy Agency.

Grant Smith | Bloomberg News
February 22, 2016

Oil Glut to Stay in 2016 as Demand Growth Slows

Daniel Acker/Bloomberg News

Global oil markets will remain oversupplied next year as demand growth slows and Iranian exports are poised to recover with the lifting of sanctions, the International Energy Agency said.

Grant Smith | Bloomberg News
October 13, 2015