IEA expects global oil supply to decline in 2026
AI Summary
The IEA expects a decline in global oil supply in 2026 but forecasts a rebound in 2027 with an increase of nearly 8 million barrels per day, reaching 110.3 million bpd due to inventory replenishments and Middle East normalization.
The IEA noted that, as inventories are replenished and the situation in the Middle East normalizes, global oil supply is projected to increase by nearly 8 mln bpd in 2027, reaching 110.3 mln bpd
World Markets Commodities Energy IEA global oil supply oil forecast 2026 decline 2027 growth Middle East