# The Global Oil Glut Returns as High Prices Crush Demand

- Source: OilPrice.com
- Published: 2026-11-06T07:30:00+00:00
- Category: Markets
- Original: https://oilprice.com/Latest-Energy-News/World-News/The-Global-Oil-Glut-Returns-as-High-Prices-Crush-Demand.html
- Canonical: https://groundlevelnews.com/story/the-global-oil-glut-returns-as-high-prices-crush-demand-f82c54/

The global crude oil market is moving back towards oversupply, according to analysts from Goldman Sachs and JPMorgan, with demand destruction from high prices causing fears of a deficit to fade and concerns of a glut to rise. “We estimate the global oil market returned to a surplus of 1.1 million barrels per day ‌in September, widening to 1.4 million bpd in October, nearly matching last year's ave

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