# Market Remains Out of Balance

> Forecasts indicate the oil market will stay oversupplied into 2020 despite OPEC and other producers extending output cuts. Global oil demand growth is slowing and US unconventional output keeps rising, leaving prices under pressure after Brent's April high of $75.

- Date: 2019-07-31 · published 2019-07-31T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/58304-market-remains-out-of-balance
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A persistent oversupply outlook points to lower crude and diesel prices, which reduces energy costs for feed mills but weakens the appeal of biofuel feedstocks.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- jpt.spe.org: https://jpt.spe.org/market-remains-out-balance

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.