Why The Global Crude Oil Glut May Be Ending

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An oil pump between Seminole and Andrews, West Texas. (Paul Lowry/Flickr)

A glut of crude oil on global markets has helped to push oil prices down to record lows. But, the over-supply may be coming to an end.

The International Energy Agency forecast that between July and September, global production of crude is expected to fall behind demand by almost 1 million barrels a day.

Here & Now‘s Jeremy Hobson speaks with business journalist Ali Velshi about the ramifications, and about what Turkey’s renewed relations with Russia mean for oil markets.


Ali Velshi, business journalist. He tweets @AliVelshi.

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