Oil Surplus Defies Crisis Fears as Demand Declines and Production Surges

3 articles · Updated · News.Az · Apr 22

Global oil markets have avoided the predicted crisis, with prices remaining stable despite geopolitical tensions and earlier forecasts of severe shortages.
An unexpected surplus has emerged, driven by record oil production in the US, Guyana, and Brazil, offsetting OPEC+ supply cuts.
Falling global demand, especially due to China's electric vehicle adoption and industrial renewables, signals a structural shift away from traditional oil dependency.

Why did oil prices recently spike despite a growing global supply surplus?

Is the world's oil surplus a new reality or the calm before a supply storm?

With peak oil demand passed, is a global 'oil buyers' club' still relevant?

Has the energy transition swapped oil dependency for critical mineral dependency?

How will Canada's new trade deal with China reshape the North American EV market?