Global oil markets face a supply deficit throughout 2024, instead of the surplus previously expected, assuming that OPEC+ continues output cuts in the second half of the year, according to the International Energy Agency.
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What Is a Commodity Index, Its Functions, Major Examples?Bloomberg Commodity Index 2024 Target Weights Announced | Press | Bloomberg LPBloomberg Commodities Indices | Bloomberg Professional ServicesBloomberg Launches BERY Sectors Indices for Commodities Sector Exposure | Press | Bloomberg LPSaudi Arabia and its partners agreed earlier this month to prolong roughly 2 million barrels day of production curbs to the middle of the year. The IEA assumes the measures will in fact continue until the end of 2024, reflecting the “bloc’s efforts to balance oil markets,” it said in a report.
