{"id":462937,"date":"2022-01-20T11:35:33","date_gmt":"2022-01-20T06:05:33","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=462937"},"modified":"2022-01-20T13:17:41","modified_gmt":"2022-01-20T07:47:41","slug":"oil-market-headed-for-surplus-as-omicron-impact-muted-iea-2","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-market-headed-for-surplus-as-omicron-impact-muted-iea-2\/","title":{"rendered":"Oil market headed for surplus as Omicron impact muted: IEA"},"content":{"rendered":"<p>Oil supply will soon overtake demand as some producers are set to pump at or above all-time highs, the International Energy Agency (IEA) said on Wednesday, while demand holds up despite the spread of the Omicron coronavirus variant. <\/p>\n<p>&#8220;This time around, the surge is having a more muted impact on oil use,&#8221; the Paris-based IEA said in its monthly oil report.<\/p>\n<p>&#8220;While the steady rise in supply could see a significant surplus materialise in 1Q22 and going forward, available data suggest that 2022 is starting off with global oil inventories well below pre-pandemic levels,&#8221; it said. <\/p>\n<p>The United States, Canada and Brazil are set to pump at all-time highs for the year while Saudi Arabia and Russia could also break their output records.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil supply will soon overtake demand as some producers are set to pump at or above all-time highs, the International Energy Agency (IEA) said on Wednesday, while demand holds up despite the spread of the Omicron coronavirus variant. &#8220;This time around, the surge is having a more muted impact on oil use,&#8221; the Paris-based IEA said in its monthly oil report. &#8220;While the steady rise in supply could see a significant surplus materialise in 1Q22 and going forward, available data suggest that 2022 is starting off with global oil inventories well below pre-pandemic levels,&#8221; it said. The United States, Canada [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[146,130,177],"tags":[],"class_list":["post-462937","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-oil-gas-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/462937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=462937"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/462937\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=462937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=462937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=462937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}