Global oil surplus could stretch into 2026 on higher OPEC+ output, softening demand, IEA says

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Brent oil drops by 2.2% this Tuesday and is listed at $61.9, very close to the lows of the year marked in May, just after Donald Trump’s announcement of massive tariffs. The withdrawal or extension of almost all of these trade barriers allowed oil to regain ground and paid off the rise of the Stock Exchanges, but this week again the tariff risk punishes the energy market. Tensions between China and the United States are unleashing sales, acceler…

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The world will produce more oil than expected in 2025 and 2026, but demand will fall: IEA. Image: istockphoto.com - bashta The International Energy Agency (IEA) adjusted upwards its forecast for global oil supply by 2025, in response to the decision of OPEC+ and associated producers to accelerate some planned cuts. This adjustment exacerbates the risks of a substantial global surplus, which could reach four million barrels per day in 2026, the o…

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In its October bulletin, the agency attached to the Organisation for Economic Cooperation and Development (OECD) predicts that the world oil supply will increase this year by 3 million barrels per day (mb/d), reaching 106.1 mb/d in 2025, while the expected increase in supply in 2026 will be 2.4 mb/d.