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Three Potential Oil Market Scenarios

March 6, 2021 by

According to IHS Markit’s latest note, the “current situation” points to the possible buildup of the “most extreme” global oil supply surplus ever recorded. The company estimates that, if the price war continues amidst a global recession and coronavirus crisis, the surplus could range between 800 million and 1.3 billion barrels in the first six months of this year.

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