Aug 12, 2023
IEA Report: Oil Prices on the Brink of Soaring as Supply Narrows and Demand Shatters Records
The stage is set for a potentially striking upswing in global oil prices, as supply constricts and demand ascends to unprecedented levels. With oil reserves dwindling at a breakneck pace, OPEC’s spare capacity restrained, and powerhouse consumers like China and India snapping up record quantities of Russian crude at discounted rates, a confluence of these factors is signaling the likelihood of an…
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