World oil market faces even larger 2026 surplus, IEA says
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Summary: LONDON, (Reuters) - The global oil market faces an even bigger surplus next year of as much as 4.09 million barrels per day as OPEC+ producers and rivals
LONDON, (Reuters) – The global oil market faces an even bigger surplus next year of as much as 4.09 million barrels per day as OPEC+ producers and rivals lift output and demand growth slows, the International Energy Agency said yesterday.
The outlook from the IEA, which advises industrialised countries, is the latest warning that the oil market is heading for oversupply. A surplus of 4.09 million bpd would be equal to almost 4% of world demand, and is much larger than oth
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