Last month’s increase in supply from OPEC just adds to the glut of oil already in the market. And although the cartel has also boosted its demand estimates for this year, global supply should still be greater than demand, meaning that stocks should continue to build over the year.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services