Economy
IEA: Global Oil Supply to Decline in 2026, Expected to Rise in 2027
The International Energy Agency (IEA) forecasts a daily global oil supply decrease of 4.3 million barrels in 2026, which is 0.6 million barrels more than previous estimates, with supply expected to fall to 102 million barrels.
The International Energy Agency (IEA) predicts that global oil supply will decrease by 4.3 million barrels per day in 2026. This decline is 0.6 million barrels greater than earlier forecasts, with supply expected to drop to 102 million barrels per day. However, in 2027, oil supply is projected to increase by 8.3 million barrels, reaching 110.3 million barrels per day.