IEA raises its forecast for global oil supply growth in 2026 by 2.5M barrels

Global oil supply in 2026 will reach 108.7 million barrels per day (bpd), up 2.5 million bpd from 2025, reads the monthly update of the International Energy Agency (IEA), Report informs.

A month earlier, the organization's analysts forecast an increase of almost 2.4 million bpd, to 108.6 million bpd. This represents a 100,000 bpd increase in their forecast.

The agency's analysts maintained their estimate for global oil supply in 2025 at 106.2 million bpd. This represents a 3.2 million bpd increase in global supply over the past year.