The oil glut will last into 2026. Here's why it's unclear how big it will be.
Update: 2025-11-02
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**Summary:**The oil market was bracing for a significant glut, but a surprise announcement of new sanctions on Russia's largest oil companies by the US Treasury has shifted the outlook. These sanctions could potentially reduce supply by up to 1.5 million barrels per day, potentially easing the glut and boosting prices. However, the exact impact remains uncertain, with analysts predicting a range of outcomes from slight price dips to significant surges. Buyers worldwide are cautious, and the market's future hinges on how producers and buyers respond to these new rules.
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