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Global Oil Market Faces Surplus Supply in 2024
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Overview
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Global oil market expected to see a slight surplus of supply in 2024, despite OPEC+ extending current cuts. Oil prices have fallen by around 16% since late September due to concerns about demand and potential surplus in 2024.
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How might the surplus supply impact oil prices in 2024?
What actions might OPEC+ take to address the surplus supply?
What factors are contributing to the decline in oil prices?
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