IEA Reduces 2026 Global Oil Market Surplus Projection as Demand Rises and Supply Growth Slows
Oil market tightens as IEA revises surplus down to 3.84 million barrels.
The International Energy Agency has revised its outlook for the global oil market in 2026, projecting a narrower surplus as demand growth accelerates while supply expansion slows. The Paris-based agency now expects global oil supply to exceed demand by 3.84 million barrels per day in 2026, down from the 4.09 million barrel-per-day surplus forecast in its November report.
