OPEC+ JTC sees slightly bigger surplus in oil market this year

The OPEC+ Joint Techinical Committee sees the oil market surplus this year reaching 900,000 barrels per day (bpd), up 100,000 bpd from its previous forecast, a report by the committee seen by Reuters showed.

Under its base case scenario, the JTC sees the oil market in a surplus of 3.1 million bpd in September, falling to 0.6 million bpd in October before rising to 1.4 million bpd in November.