Oversupply of oil could create glut of 4m barrels a day, says energy watchdog. The world is producing more oil than it needs. “…world oil supply is forging ahead while oil demand growth remains modest by historical standards.” There is now “irreversible momentum towards the age of electricity.”

https://www.theguardian.com/business/2025/nov/13/oversupply-oil-barrels-energy-watchdog-iea

by mafco

5 comments

  1. If history is any guideline, self-destructive humans will find a way to burn up this oil.

  2. The oversupply is due to OPEC. They are crashing the market enough so it remains unprofitable for the US.

  3. Ironically electric cars making it a great time to own a combustion car!

  4. Irony, Trump’s call to “drill baby, drill” could be the cause of the downfall of Big Oil.

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