Expected Surge in Oil Supply Sustains Bear Market

Growth in oil supply is forecast to accelerate next year in a global wave of production, keeping crude prices mired in a bear market

The U.S.

is expected to continue driving much of the surge in output, and increases by smaller producers such as Brazil and Norway will contribute to excess supply, investors say. Citigroup and JPMorgan Chase analysts currently project supply will grow roughly one million barrels a day more than demand in 2020, resulting in a surplus each quarter...

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