Oil stocks will next year increase by 2.96 million barrels per day, which is more than even during the pandemic year 2020, according to IEA's monthly report.
The global demand this year and next year is expected to grow at a rate of less than half of the pace seen in 2023.
Crude oil prices have fallen by about 12 percent this year and are traded near 66 dollars per barrel in London.
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