Inside the Hidden Oil Glut

There is once again a great deal of noise regarding the oil glut. Some say it is the largest since COVID, while others are dismissing it as hype. By looking at data from the OECD, Kpler, the Oxford Energy Institute, and other independent analyses, it becomes clear that it is the composition and location of today’s oil glut that makes it particularly difficult to quantify. As has been noted in the recent Oxford Energy Institute report, despite repeated forecasts of surpluses, OECD stocks have barely budged. The buildup is happening mainly…