MOSCOW, August 13. /TASS/. The International Energy Agency (IEA) increased its forecast for global oil supply growth in 2025 by 370,000 barrels per day (bpd) to 2.5 mln bpd and in 2026 by 620,000 bpd to 1.9 mln bpd in its August report.

Estimates were revised upward amid the decision of eight OPEC+ countries to increase oil production in September by 547,000 bpd, which will end voluntary restrictions with the volume of 2.2 mln bpd, observed by these eight countries since the start of 2024.

In absolute terms, the global oil supply in 2025 is estimated by the IEA at 105.5 mln bpd in 2025 and 107.4 mln bpd in 2026.

OPEC+ countries will account for 1.1 mln bpd this year and 890,000 bpd next year in the total volume of supply growth. Non-OPEC+ countries will be able to secure supply growth by 1.3 mln bpd in 2025 and 1 mln bpd in 2026, largely on account of production increase in the US, Canada, Brazil and Guyana.