SINGAPORE — Global markets are severely overplaying an oil supply glut, said Jeff Currie, chief strategy officer of energy pathways at private equity giant Carlyle.
China's crude oil imports in 2023 had notched a record high.
China's oil demand has been declining on the back of a slump in industrial inputs, according the International Energy Agency.
On the supply side, black oil production in the U.S., one of the world's top crude oil producers, has been "flat" this year, Currie said.
Black oils include crude oil, fuel oil, furnace oil, asphalt and tar.
Persons:
Currie, Jeff Currie, Carlyle, I've, Energean
Organizations:
Asia Pacific Petroleum Conference, SINGAPORE —, International Energy Agency, Reuters
Locations:
Stanton , Texas, Singapore, SINGAPORE, APPEC, U.S, Egypt, Italy, Croatia