OPEC+ Now Sees Smaller Oil Market Deficit In Q4

The OPEC+ group now expects the oil market to show a deficit of just 300,000 barrels per day (bpd) in the fourth quarter, down from initial expectations of a 1.1-million-bpd deficit, delegates told Bloomberg. The alliance’s Joint Technical Committee (JTC) significantly downgraded the expectations of a market deficit at their meeting on Thursday after reviewing the latest data on global oil demand, Bloomberg’s sources added. The technical panel monitors the situation on the market and meets ahead of every ministerial meeting of OPEC+.…