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JPMorgan estimated that the global oil market returned to a surplus of 1.1 million barrels per day in September and projected a larger surplus in October. It cited recovering Middle Eastern flows, rising production and weaker demand, while Goldman Sachs described the market as broadly balanced in September and October.
A widening surplus would increase available crude and reduce competition for prompt barrels, putting downward pressure on oil prices. Weaker demand alongside recovering supply reinforces that bearish balance-of-market signal.
thefinance.co.krNov 8, 2026Not 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.
