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via seekingalpha.comEconomy

IEA expects oil market to return to surplus in Q4 as Gulf shipments rebound

FROM THE WIRE · SEEKINGALPHA.COM

The global oil market is expected to return to a surplus in Q4 for the first time since the Iran war began, as exports from the Middle Eastern recover faster than global demand, the IEA said

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MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishA return to surplus eases supply concerns and weighs on crude prices.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01The IEA expects the oil market to return to surplus in Q4 for the first time since the Iran war began.
  2. 02Middle Eastern exports are recovering faster than global demand.
  3. 03Persian Gulf shipments remain 26% below pre-war levels.

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