Explained in plain English
What is 'oversupply'?
When there's more of something available than people want to buy, it's called oversupply. For oil, this means there's too much crude oil being produced compared to global demand, which then pushes down its market price. This makes it harder for oil companies like BP to make a profit.
Stories that explain this
BP cutting 700 jobs due to oil oversupplyThis explainer came from a news story
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