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IEA upgrades 2025, 2026 outlook on growth of global oil supplies again

The forecast for 2026 has been upgraded by 290,000 bpd, with the agency now expecting supply of oil to the global market to increase by 2.4 mbd to 108.5 mbd

MOSCOW, October 14. /TASS/. The International Energy Agency (IEA) has upgraded again its outlook on growth of global oil supplies in 2025 amid OPEC+ decisions, this time by 330,000 barrels per day (bpd), according to the organization's report. The agency expects oil supply to grow by 3 mln barrels per day (mbd) this year to 106.1 mbd.

The forecast for 2026 has been upgraded by 290,000 bpd, with the agency now expecting supply of oil to the global market to increase by 2.4 mbd to 108.5 mbd.

Meanwhile, in September, total oil supply on the market rose by 760,000 bpd month-on-month to 108 mbd as OPEC+ production gained 1mbd, the agency noted. Non-OPEC+ supply fell by 230,000 bpd.

In annual terms oil supply on the market was 5.6 mbd higher in September, of which OPEC+ countries accounted for 3.1 mbd, and non-OPEC+ countries accounted for 2.5 mbd, according to the report.

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