Oil Glut Incoming: Are We Drowning in Crude?

Oil glut incoming? The International Energy Agency predicts a massive oversupply of oil next year – up to 4 million barrels per day – as OPEC Plus and other major producers ramp up output while demand slows due to a weakening economy and the rise of electric vehicles. This surplus, far exceeding other expert forecasts, is already impacting prices and raising concerns about how producers will react.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.