Commodities
US Sees Small Global Oil Deficit in 2025 in Outlook Reversal
- Global demand to exceed output by 100,000 barrels a day
- IEA last month forecast 1 million barrel-a-day surplus
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The US reversed its forecast for a crude glut next year and is now calling for a small oil-market deficit.
Global oil consumption should exceed output by 100,000 barrels a day in 2025, according to a monthly report from the Energy Information Administration out Tuesday. That compares with a 300,000 barrel-a-day surplus forecast last month.