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Maroc Maroc - WN.COM - Mideast - 03/Oct 08:53

Global Oil Market Hints at Emerging Supply Imbalance

Arabian Post Staff -Dubai Oil prices are sliding as traders cite mounting unsold Middle Eastern crude and weakening demand from key importers. This shift raises prospects of a global oversupply even as OPEC+ debates its next policy move. Estimates from trading houses place unsold crude cargoes for November loading in the Middle East between 6 million and 12 million barrels. These volumes represent a departure from usual patterns where discount-seeking buyers quickly absorb surplus cargoes. Market participants point to a combination of subdued Chinese demand and logistical bottlenecks as contributing factors. Spot premiums on benchmark grades such as Oman, Dubai and Murban have plunged below...

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