Reported 1 day ago
The International Energy Agency (IEA) forecasts a significant rise in global oil supply, potentially leading to a surplus in 2026 as OPEC+ ramps up production and external supply increases. The IEA projects an increase of 2.7 million barrels per day in 2025 and 2.1 million in 2026, contrasting with OPEC's outlook of a slower demand growth. Despite OPEC's optimistic demand forecasts, the IEA warns of an excess supply scenario exacerbated by geopolitical factors and market dynamics.
Source: YAHOO