Commodities
Global oil market moves into surplus as Gulf shipments rebound
Shipments from the Persian Gulf have rebounded, and the agency's summary gives no size for the surplus.
The global oil market has moved into surplus, the International Energy Agency said. The shift came as shipments from the Persian Gulf rebounded.
A surplus means supply is running ahead of demand. The agency's summary does not give the size of the surplus, or how oil prices reacted.
No next date for the agency's market update was given in the summary available to us.
