Experts say the oil price is ‘over a barrel’ as demand continues to weaken

The International Energy Agency (IEA) recently released its December Oil Market Report (OMR), in which it described oil prices, unambiguously, as ‘over a barrel’. Oil market sentiment turned decidedly bearish in November and early December as non-OPEC+ supply strength coincided with slowing global oil demand growth. The extension of OPEC+ output cuts through the first […]