The global oil market recorded a surplus of 1.4 million barrels per day in October amid weak demand and a recovery in exports from the Middle East, Reuters reports, citing a report by J. According to Morgan. The bank estimates that since the conflict in the region began, global oil consumption has decreased by 3.3 million barrels per day. At the same time, exports to the Middle East increased from a March low of 9.8 million to 20.7 million barrels per day, and Latin American countries increased supplies by 1.5 million barrels per day year over year.