Kpler Predicts Oil Surplus to Persist Despite OPEC+ Output Caps

Crude oil production will continue to outpace demand in 2025 despite OPEC+ caps on output, Kpler analyst Homayoun Falakshahi told Reuters. In an interview from earlier today, the analyst noted the sluggish demand growth in China but also signs of weakening demand growth in the United States, which even the recent production outages in Libya could not offset, at least based on trader behavior. Falakshahi noted the recent increases in gasoline and middle distillate inventories in the United States as bearish signals for oil prices, saying that summer…