Oil Market Faces 2 Million Barrel-per-Day Surplus: BofA

Core Viewpoint - The global Brent market is expected to experience a surplus of approximately 2 million barrels per day this year due to oversupply and rising inventories [1] Group 1 - Francisco Blanch, head of commodities research at Bank of America Global Research, highlighted the current oversupply situation in the market [1] - Inventories in the market are on the rise, contributing to the surplus [1]