IEA Revises Down 2026 Oil Supply Surplus Forecast as Demand Rises and Sanctions Constrain Supply
IEA reduces oil surplus forecast as demand strengthens and sanctions limit supply.
The International Energy Agency (IEA) released its monthly report on December 11, revising its outlook for global oil markets in 2026. The agency now projects a supply surplus of 3.84 million barrels per day next year, down from the 4.09 million barrels per day forecast in November's report. This narrowing surplus signals a modest rebalancing of global oil markets as demand growth strengthens while supply expansion faces headwinds.
