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Trafigura Warns of 2026 Oil 'Super Glut'

12/9/2025

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Summary

Story summary

Trafigura predicts a 2026 'super glut' of oil due to higher supply and softer demand, per Saad Rahim, Chief Economist at Trafigura.
Brent crude has fallen 18% in 2025, trading around $62 per barrel after a brief rise during the Israel-Iran conflict.
The International Energy Agency expects a 2026 supply rise of over 3 million barrels per day, with modest demand.

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Story summary

Trafigura predicts a 2026 'super glut' of oil due to higher supply and softer demand, per Saad Rahim, Chief Economist at Trafigura.
Brent crude has fallen 18% in 2025, trading around $62 per barrel after a brief rise during the Israel-Iran conflict.
The International Energy Agency expects a 2026 supply rise of over 3 million barrels per day, with modest demand.