, Columnist
Oil Prices Face a Chill Autumn Wind
The recovery in demand has officially stalled, and there’s still plenty of stockpiles brimming to the rim.
The dog days of summer are firmly behind the oil market.
Photographer: Angus Mordant/BloombergThis article is for subscribers only.
As the summer driving season fades in the rearview mirror, oil markets are taking on a distinctly chilly air.
The recovery in demand has officially stalled, just as the OPEC+ countries are starting to taper their record output cuts. With spare capacity rife throughout the supply chain and huge stockpiles of crude and refined products, it may be some while yet before oil prices resume their upward path.