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OPEC+ sees worsening oil surplus Q1, 2022 – document

OPEC+ sees worsening oil surplus Q1, 2022 - document
© Reuters. FILE PHOTO: A 3D printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration

LONDON (Reuters) – OPEC+ sees the oil surplus worsening to 2 million barrels per day (bpd) in January, 3.4 million bpd in February and 3.8 million bpd in March next year, an internal report seen by Reuters showed.

“Generally, the impact of Omicron seems to be jet-fuel related for now, particularly in Africa and Europe,” the report said.

“Transportation fuel demand within Europe might be also affected,” it added.

Source: Investing.com

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