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2025-07-31 23:03:00
[ANZ: Crude oil inventories are expected to increase significantly later this year] ANZ analysts said that due to continued sluggish demand growth and signs of slowing gasoline consumption in the United States, oil market fundamentals indicate that OPEC+ has limited room to increase production to the market. According to the company, OPEC+ is expected to approve a production increase of 500,000 barrels per day in September, thus completing the lifting of voluntary production cuts. "This should not be a problem at present," said analysts Daniel Hynes and Soni Kumari. "Currently, inventories in major markets are flat or slightly lower than the same period last year." However, ANZ still expects inventories to increase significantly later this year and estimates that the supply surplus will reach 1.74 million barrels per day in the fourth quarter. (Dow Jones)
