2025 world oil supply to rise by 2.7 mil bpd following OPEC+ hike (previously 2.5 mil bpd)2025 world oil demand growth forecast seen at 740,000 bpd (previously 680,000 bpd)2026 average oil demand growth forecast steady at 700,000 bpd
Overall, IEA notes that the oil market is “being pulled in different directions by a range of forces, with the potential for supply losses stemming from new sanctions on Russia and Iran coming against a backdrop of higher OPEC+ supply and the prospect of increasingly bloated oil balances”.
This article was written by Justin Low at investinglive.com.