TotalEnergies says world faces oil oversupply risk as prices rise again

TotalEnergies has warned that global oil markets are tipping into excess supply, as Opec+ increases production while demand keeps weakening. The alert came Thursday from the company’s Q2 earnings call, where it laid out how Saudi Arabia and its Opec+ allies are adding barrels back into the system in an attempt to grab market share. […] source: https://www.cryptopolitan.com/totalenergies-world-oil-oversupply-risk/