She was International Energy Agency She said on November 14 that global oil supply will exceed demand in 2025 even if OPEC+ sticks to its production cuts because rising production from the United States and other producers is more than weakening demand.
The possibility of excess supply does not please the OPEC+ alliance, which consists of the Organization of the Petroleum Exporting Countries (OPEC) and allies such as Russia, in his plan to start increasing production, according to what Reuters reported.
Birol said on Tuesday, “This year and next, we expect comfortable oil markets unless there is a major geopolitical escalation… There will be an abundance of oil and gas.”
