Rising Oil Supply Emerges as Top Concern for Crude Traders

Rising global oil supply appears to be on top of the list of concerns for oil trading giants and industry analysts, according to the speakers at the Asia Pacific Petroleum Conference (APPEC) in Singapore this week. Many participants in the event expressed more concern about upcoming supply than about slowing demand. While recognizing that demand has undershot expectations this year, renowned analysts and the top executives at oil traders fear a growing oversupply next year. The OPEC+ group plans to unwind its ongoing production cuts gradually over…