Rally decreases, supplies increase

The next few months will be important for the trend of Oil prices: the increase in supplies worldwide will in fact lead to a probable slowdown of the rally.
This is what we learn fromInternational Energy Agency in the baseline report for November.
The incredible increases with the maximum peak had in September are likely to undergo a reversal - already underway - in the two-month period November-December and at the beginning of 2022.

Truce as a consequence of the increase in production

Why already underway? The reason is simple.
Global oil production - whose half travels on the sea direct to ports around the world - it is already on the rise: in October, as is always known in the report, supplies increased by 1,4 million barrels per day, reaching 97,7 mpd (million barrels per day).
The increase expected in the two-month period November-December is mainly driven by United States, from which about 400.000 bpd will come in the last two months of the year; lower threshold instead for Russia and Arabia which together total 330.000 bpd.

Production grows, demand grows

This increase will therefore satisfy, at least in part, what is there growing demand, a trend started on this path for months now.
That question, in fact, for what concerns oil it is set to grow by 3,4 million barrels per day over the course of 2022, with an estimated 99,7 million barrels reached just by the end of next year.