IEA sees global oil supply growth driving larger market glut
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The International Energy Agency (IEA) has increased its global oil supply growth forecasts for 2025 and 2026, indicating a larger market surplus. The IEA expects supply to grow by 3.1 million barrels per day (bpd) in 2025 and 2.5 million bpd in 2026, with total supply exceeding demand by 4.09 million bpd in 2026. This reflects a growing imbalance in the oil market as supply continues to outpace modest demand growth.
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