Financial Times: The global oil market faced an oversupply of nearly 2 million barrels a day in October for the first time since the conflict in Iran began in late February, according to a new report from the International Energy Agency. The recovery is due to an increase in the supply of oil from the Persian Gulf, an increase in production in other regions of the world and a decrease in demand.

Financial Times: The global oil market faced an oversupply of nearly 2 million barrels a day in October for the first time since the conflict in Iran began in late February, according to a new report from the International Energy Agency. The recovery is due to an increase in the supply of oil from the Persian Gulf, an increase in production in other regions of the world and a decrease in demand.