Oil moves from supply tightness to pleanty

Oil donkeys

LONDON: Global oil markets notched up a number of milestones this year that echoed the story of the past decade: the world has shifted from an era of supply tightness to plenty.

What distinguished the developments of 2019 was not just how big they were but often how little impact they had. From the world’s biggest-ever initial public offering to its worst-ever supply disruption, a barrage of sanctions on exporters to two Opec interventions, never before had so many momentous events left investors so unmoved.