OPEC Panel Forecasts SPR Releases May Massively Swell Global Oil Surplus
- Excess may increase by 1.1 million b/d in Jan. and Feb.
- OPEC and allies meet to decide output policy on Dec. 1-2
This article is for subscribers only.
OPEC expects that oil stockpiles released by consuming nations could massively swell the surplus in global markets.
The projections from OPEC’s advisory body -- the Economic Commission Board -- come a week before the group and its allies meet to decide whether to increase production.