Analysts from Standard Chartered note discrepancies between supply estimates from IEA, OPEC, and the U.S. Energy Information Administration, suggesting the perceived 2025 oversupply might be exaggerated.
Oil prices are little changed in Wednesday's intraday sessions after they tumbled more than 4% on Tuesday to a near two-week low on easing Iranian supply disruption fears. According to a report by the Washington Post, Israeli Prime Minister Netanyahu told the Biden administration that Israel is willing to strike Iran’s military infrastructure rather than oil or nuclear facilities, and that Israel would take U.S. opinion into consideration.
Related Oil Jumps After API Reports Draws in Crude and Fuel Inventories StanChart points out that whereas the market has been focusing more on the considerable gap between IEA and OPEC Secretariat estimates of demand growth, relatively little attention has been given to even larger differences between IEA and U.S .Energy Information Administration EIA estimates of OPEC also known as Declaration of Cooperation, DoC oil output.
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