Oil market forecasters such as the International Energy Agency (IEA) may have been too pessimistic about supply-demand balances in their latest assessments, which show a large surplus for 2025. Actual global oil inventory trends in the third quarter look much more bullish than the IEA’s balances and projections, the agency’s latest oil market report showed. Stock draws have accelerated in recent months, with withdrawals bigger than previously expected, leaving a large gap of “unaccounted for”, or “missing…
