MOSCOW, July 11. /TASS/. Oil supplies to the global market increased by 150,000 barrels per day in June as field maintenance eased and biofuels rose, offsetting a significant drop in Saudi flows, the International Energy Agency (IEA) said in its July report.
Global crude production gained 910,000 barrels per day in Q2, whereas growth by 770,000 barrels per day is seen for Q3 with non-OPEC+ providing 600,000 barrels per day of the gains.
For 2024 as a whole, global oil supply growth is forecast to average 770,000 barrels per day, which will boost oil supply to a record 103 mln barrels per day.
In 2025, global supply growth is projected at a much stronger 1.8 mln barrels per day, with non-OPEC+, mainly in the United States, Canada, Guyana and Brazil, leading gains for a third consecutive year, adding 1.5 mln barrels per day, the agency said.
Oil supply from Saudi Arabia went down by 180,000 barrels per day in June to 8.85 mln barrels per day. The export drop was partially offset by growth of domestic consumption, the IEA noted.