OPEC warns combined with a significant increase in U.S. oil inventories, is the "oversupply" in the crude oil market really here?
OPEC rarely shifts to a pessimistic outlook, U.S. crude oil inventories continue to rise, and the futures curve is trapped in "contango," with multiple signals indicating a global oversupply of crude oil. Although some analysts believe the market is overreacting, the fact is that downward pressure on oil prices has increased. If the oversupply continues, falling oil prices may alleviate inflation, but it also complicates the outlook for the energy market
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