Commodity forecasters have warned of a potential oil glut, with some projecting that prices could drift toward multi-year lows as supply outpaces softening demand.
The caution sits awkwardly beside near-term forecasts for elevated prices, underscoring how sharply expectations diverge depending on the assumptions about OPEC+ output and the global economy.
A delicate balance
Global demand, intricate production decisions and the constant hum of geopolitical events are creating a delicate balance, analysts said, ensuring continued volatility in energy markets.
For consumers, the prospect of cheaper oil would reinforce the disinflation already underway; for producers, it raises the risk of revenue pressure if a glut materializes.
