Oil glut predicted to drive prices down to 20-year low

The International Energy Agency said Saudi Arabia boosted oil supply by close to 1.5 million barrels per day from January through October - MyLoupe/Getty Oil prices are on course to fall to their lowest level in two decades outside the pandemic, analysts at JP Morgan have predicted. In a potential boost for drivers, JP Morgan said the price of a barrel of Brent crude oil would average $42 (£32) during 2027 as a surge in production by the Opec cartel triggers a supply glut. Without any intervention, pric ...