The world oil market will return to a surplus in the fourth quarter of this year, the International Energy Agency said, as Middle East exports recover faster than global oil demand despite continued attacks on shipping, Reuters reports.
The agency also gave more details of remaining volumes to come from a record release of oil from its members’ emergency reserves pledged in March, saying 71 million barrels would be made available by the end of February including 15 million barrels of diesel to ease market tightness.
