The IEA now forecasts that world oil demand will fall by 2.6M bpd in 2026, leaving a total supply shortfall of 1.73M bpd for the year. The outlook for 2027 is more positive, with global oil supply projected to exceed demand by 3.94M bpd, up from the 3.73M bpd surplus predicted in the prior report.
Tuesday, October 20, 2026
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IEA Warns Global Diesel Stockpiles Will Not Recover Until H2 2027
Commodities7 days ago
Refineries will likely increase their output by year-end, but gasoil will fail to meet global demand in the fourth quarter of 2026, the International Energy Agency reported Wednesday. In its October Oil Market Report, the agency warns that global diesel stockpiles will not begin to replenish, outside of typical seasonal patterns, until the second half of 2027. This persistent squeeze on middle distillates is driven by prolonged supply disruptions stemming from the war in Iran.
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