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IEA Sees 4 Million BPD Oil Oversupply by 2026

10/14/2025

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Summary

Story summary

The International Energy Agency (IEA) projects an oversupply of 4 million barrels per day in 2026, 18% higher than its previous estimate.
The IEA also lowers its demand growth forecast for 2025 and 2026 to 700,000 bpd, about half of OPEC's projections.
Global oil supply is projected to rise by 3 million bpd this year (2025) and 2.4 million bpd next year (2026), with tankers' stocks at a four-year high.

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Story summary

The International Energy Agency (IEA) projects an oversupply of 4 million barrels per day in 2026, 18% higher than its previous estimate.
The IEA also lowers its demand growth forecast for 2025 and 2026 to 700,000 bpd, about half of OPEC's projections.
Global oil supply is projected to rise by 3 million bpd this year (2025) and 2.4 million bpd next year (2026), with tankers' stocks at a four-year high.