Global oil supply in October increased by 2.3 million barrels per day, to 105.4 million, exceeding the demand of 102.3 million barrels per day for the first time since the beginning of the conflict in Iran. According to the International Energy Agency, the growth was made possible by an increase in exports from the Gulf countries by 950 thousand barrels per day, Kommersant writes. Against the background of the recovery in supply, the price of dated North Sea oil fell by 32% from the October peak to $93 per barrel.

Global oil supply in October increased by 2.3 million barrels per day, to 105.4 million, exceeding the demand of 102.3 million barrels per day for the first time since the beginning of the conflict in Iran. According to the International Energy Agency, the growth was made possible by an increase in exports from the Gulf countries by 950 thousand barrels per day, Kommersant writes. Against the background of the recovery in supply, the price of dated North Sea oil fell by 32% from the October peak to $93 per barrel.