On June 18th, Global Energy announced that Rystad Energy, a consulting firm, expects that global oil supply growth may slow down this year, and there is a high possibility of further reduction next year. According to Rystad Energy's report, the Organization of Petroleum Exporting Countries (OPEC+) and its allies recently extended the voluntary production cuts period, and the organization's demand forecast remains unchanged. According to the latest expectations of OPEC+, the total global oil supply this year will increase close to zero. If this expectation is realized, 2024 will be the first year without oil supply growth since the outbreak of the pandemic in 2020. The report also states that the market initially reacted negatively to OPEC+'s latest guidelines. However, it is difficult to completely put down oil prices when global oil supply growth is expected to slow down in 2024 and there is a possibility of production cuts in 2025.