SUPERGLUT?

The oil market is likely to face a “super glut” next year as new supplies run up against sluggish demand, according to one set of analysis recently.

“Whether it’s a glut or a super glut, it’s kind of hard to get away from that.” said one commodity trader’s chief economist.

The benchmark Brent oil price has fallen by 16 percent this year.

Slowing growth in demand from China and new supplies coming on stream next year are expected to weigh further on crude prices in 2026.

As we go to press Brent crude is currently trading at  around $62 a barrel.

Funnily enough that is right in the sweet spot according to the JR type character in the Texas oilfield based Landman streaming drama.