Loading…
Standard Chartered analysts said oil has given up nearly all of its 2022 gains, citing a Q3 surplus they forecast at 1.7 million bpd for October. They expect the Q4 surplus to narrow to 0.6 million bpd and see no immediate reason for OPEC to make supply cuts.
A forecast surplus points to softer crude prices and lower diesel costs ahead, reducing input expenses for feed producers. The view depends on Iranian supply returns and Russian output, which could change the balance.
rigzone.comAndreas ExarheasSep 29, 2022Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
