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Sumo: Oil demand will decrease by 2.5 million barrels next month
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Economy News - Baghdad
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Added 12/26/2023 - 12:55 PM
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Economy News - Baghdad
The Iraqi Oil Marketing Company, SOMO, revealed a decrease in demand for oil by more than 2.5 million barrels during the next month.
Al-Eqtisad News obtained a report issued by SOMO, which indicated that the current demand for oil amounts to 103.12 million barrels per day, while the supply is 101.76 million barrels.
He stressed that supply will exceed demand next month by more than 800,000 barrels per day, as supply will be 101.4 million barrels compared to 100.59 million barrels.
The report pointed out that the decline in crude oil prices is due to weak Chinese demand and the rise in global oil reserves due to increased production, especially from America.
Al-Eqtisad News obtained a report issued by SOMO, which indicated that the current demand for oil amounts to 103.12 million barrels per day, while the supply is 101.76 million barrels.
He stressed that supply will exceed demand next month by more than 800,000 barrels per day, as supply will be 101.4 million barrels compared to 100.59 million barrels.
The report pointed out that the decline in crude oil prices is due to weak Chinese demand and the rise in global oil reserves due to increased production, especially from America.
Views 31
Added 12/26/2023 - 12:55 PM
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