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OPEC+ sees slightly smaller oil market surplus this year, sources say

OPEC+ sees slightly smaller oil market surplus this year, sources say
A ministerial meeting of OPEC+, which includes Russia, is set for Wednesday (Shutterstock)
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Updated 02 August 2022

OPEC+ sees slightly smaller oil market surplus this year, sources say

OPEC+ sees slightly smaller oil market surplus this year, sources say

LONDON: The Joint Technical Committee of the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, trimmed its forecast for a surplus in the oil market this year by 200,000 barrels per day to 800,000 bpd, two delegates told Reuters.

The JTC is meeting on Tuesday ahead of a ministerial meeting of the alliance, which includes Russia, on Wednesday.