OPEC+ trims 2022 oil market surplus forecast in latest data

LONDON: OPEC+ revised down its forecast for the 2022 oil market surplus by about 200,000 barrels per day (bpd) to 1.1 million bpd, according to a base scenario in a technical committee report seen by Reuters on Sunday.

The data – part of a report the Joint Technical Committee (JTC) prepares for OPEC+ ministers – also shows stocks in the developed world standing at 62 million barrels below the 2015 to 2019 average by the end of the year.