Deficit of 2 mi bpd should hit oil market

A deficit of 2 million barrels per day is expected to hit the oil market amid the recovery of the global economy in July. Speculation stems from the president of the global energy company Mercuria, Marco Dunand, in an interview with Reuters.

It is worth remembering that the world oil market suffered from instability prices and demand, due to the coronavirus pandemic that shook the Sector. At various times, oil traders struggled to find places to stock about 1 million barrels of the product and derivatives, due to lack of demand and low prices.

"If OPEC+ maintains its current production cuts, we may be reducing 3 million bpd in August and September," he speculated Mr. Dunand.

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