IEA Raises Estimate of Surplus Oil Supply on Higher OPEC Output

  • Excess seen at 1.75 million barrels a day in the first half
  • Iranian output recovers after sanctions; Iraq pumps at record

Goldman’s Currie Expects Oil Volatility to Go Higher

The global oil surplus will be bigger than previously estimated in the first half, increasing the risk of further price losses, as OPEC members Iran and Iraq bolster production while demand growth slows, according to the International Energy Agency.

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