- 2025 world oil demand growth forecast seen at 790,000 bpd (previously 710,000 bpd)
- 2026 average world oil demand growth forecast seen at 770,000 bpd (previously 700,000 bpd)
- 2025 world oil supply seen rising by 3.1 mil bpd (previously 3.0 mil bpd)
- 2026 world oil supply seen at 2.5 mil bpd (previously 2.4 mil bpd)
With supply continuing to outpace demand, IEA says that this will lead to a situation in 2026 where total oil supply will be 4.09 mil bpd higher than total demand. That is higher compared to their previous forecast of a surplus of 3.97 mil bpd. Supply glut.
This article was written by Justin Low at investinglive.com.