MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Oil Surplus in 2024 Even If OPEC+ Members Extend Cuts: IEA

OIL

Even if the OPEC+ nations extend output cuts into next year the global oil market will see a slight surplus of supply in 2024 according to Toril Bosoni at the IEA.

  • The oil market is currently in a deficit and stocks are declining "at a fast rate", Toril said.
  • "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.
  • Saudi Arabia and Russia are widely expected to extend the current 1.3mb/d product cuts into early next year. Market speculation is centred around how long the cuts might last and if OPEC+ decide further cuts are needed amid global demand concerns at the ministerial meeting this coming weekend.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.