In the final months of 2024, global oil markets are confronting a complex and volatile landscape. Despite the Organization of Petroleum Exporting Countries (OPEC) efforts to manage output, an oversupply in several key regions is becoming increasingly apparent. Analysts are issuing bold estimates for how this oversupply could shape the market as the year comes to a close, with potentially far-reaching implications for both producers and consumers.

Saudi Arabia, a major player in the global oil market, has once again increased oil prices for Asian buyers

As the summer travel season kicks off, fuel consumption inevitably rises. However, a curious phenomenon has emerged: while crude oil prices have rebounded from their lows in June, gasoline prices have remained relatively stable.