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IEA raises global oil supply growth forecast in 2026 by 100,000 bpd

The IEA expects oil supply to increase by 3.1 million bpd in 2025, to 106.3 million bpd

MOSCOW, January 21. /TASS/. The International Energy Agency (IEA) has raised its forecast for global oil supply growth in 2026 by 100,000 bpd, according to the organization's report. This means global oil supply growth next year will increase by 2.5 million bpd, to 108.7 million bpd.

For 2025, the organization maintained its forecast from its December report. The IEA expects oil supply to increase by 3.1 million bpd in 2025, to 106.3 million bpd.

Non-OPEC+ countries account for 1.8 million barrels per day of supply growth in 2025 and 1.3 million barrels per day in 2026. OPEC+ oil supply increased by 1.2 million bpd in 2025 and will increase by 1.3 million bpd in 2026 to 5.4 million bpd.

The IEA noted that in December, overall oil supply fell by 350,000 bpd month-on-month to 107.4 million bpd due to lower production in Kazakhstan and several Middle Eastern OPEC countries, but this was partially offset by a sharp recovery in production in Russia.

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