IEA OMR: cuts 2026 global oil supply growth forecast to 1.1mln BPD (prev. 2.4mln BPD), total 2026 supply forecast 107.2mln BPD (prev. 108.6mln BPD). Middle East conflict is the largest oil supply disruption ever.
Importance
Level 1
Demand Forecasts
- 2026, total: 104.8mln BPD
- 2026, growth: 640k BPD (prev. 850k BPD)
Production
- OPEC+ production decreased by 210k BPD in February.
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