As the effects of the economic slowdown fed through to the energy markets in late 2008, so the demand to supply balance grew and put pressure on prices. Energy Intelligence estimates a supply surplus of 1.8mb/d in November as demand conditions weakened and non-OPEC supply picked up. While the supply overhang prompted OPEC into making a series of production cuts in the fourth quarter, it also meant that spot prices became much cheaper than the forward curve into 2009, thereby encouraging a significant stockbuild.
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机译：随着2008年底经济放缓的影响传到能源市场，因此，供需平衡的需求增加，并给价格带来压力。 Energy Intelligence估计，由于需求状况减弱和非OPEC供应增加，11月的供应过剩为1.8mb / d。尽管供应过剩促使欧佩克在第四季度进行了一系列减产，但这也意味着现货价格变得比进入2009年的远期价格便宜得多，从而鼓励了大量库存。
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