Another Oil Glut Looms, an Industrial Info Market Brief
Another Oil Glut Looms, an Industrial Info Market Brief
Attachment: Oil COVID 0820
After COVID-19 and other factors collapsed global oil demand in April and May, OPEC and OPEC+ cooperated to curb overproduction. But it looks like the cartel is headed toward increasing production again in August, a move that could backfire and cause more oversupply, resulting in lower oil prices.
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