The world is likely to have a major surplus of #oil by 2030 as production is ramped up while the #CleanEnergyTransition tempers demand.

The forecast comes days after the #OPEC+ group of major crude producers signalled they would start to unwind output cuts this autumn in a bid to support prices against fears of weakening worldwide demand.

World will amass 'major' #OilSurplus by 2030: #IEA
https://www.france24.com/en/live-news/20240612-world-will-amass-major-oil-surplus-by-2030-iea