Expecting surplus oil in 2020… Bloomberg

June 11, 2019 by Jim Colburn Leave a Comment

Javier Blas, Bloomberg, summarizes expectations for oil stocks in 2020, here…

“S&P Global Platts, the owner of what was previously named PIRA Energy consultants, put the surplus next year at around 400,000 barrels a day in a report to clients in May. The Energy Information Administration, the statistical arm of the U.S. Department of Energy, sees a 100,000 barrel-a-day excess. And Energy Aspects, another influential consultant popular with hedge funds and big trading houses, sees a “large” stock-build of 500,000 barrels a day. IHS Markit expects a total surplus of 800,000 barrels a day next year.”

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