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Explained: How will OPEC’s latest output cut extensions affect oil market balance in 2025?
- OPEC+ on Thursday extended voluntary output cuts till the end of March due to poor demand.
- Experts believe that the market will still face a glut next year despite OPEC cuts, but surplus may decrease.
- ING Group expects oil surplus next year at 500,000 barrels per day from 1 million barrels per day earlier.
December 7, 2024
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