1456 GMT - Tight OECD commercial oil inventories have given OPEC+ some leeway to boost output, but softer global demand and higher OPEC+ supply are expected to drive a sharp build in inventories, says Capital Economics' Hamad Hussain. While OECD commercial oil stocks remain below the five-year average, inventories in China appear to be rapidly rising. Meanwhile, high estimates of oil stocks on water suggest the market might not be as tight as implied. "The biggest 'known unknown' is whether China may pick up or slow the pace of strategic stockpiling," the economist says. Capital Economics expects OECD commercial oil inventories rising towards 2016 levels by the end of next year, and forecasts Brent to fall to $60 a barrel by the end of 2025 and $50 a barrel by the end of 2026. (giulia.petroni@wsj.com)

(END) Dow Jones Newswires

September 16, 2025 10:56 ET (14:56 GMT)

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