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IEA warns of 2026 oil glut as supply outpaces demand
IEA sees oil oversupply by 2026 as global demand projections soften.
The International Energy Agency forecasted a growing oil supply surplus through 2026, citing robust non-OPEC output and slowing demand. The agency expects global supply to rise by 3 million barrels per day next year as new capacity comes online, while consumption growth is trimmed on economic softness and energy transition trends. Crude prices eased marginally after the update, and OPEC+ may consider fresh production curbs to stabilize markets.