Energy and oilUpdated 4h ago

The IEA forecasts a fourth-quarter oil surplus as Gulf exports recover.

The International Energy Agency expects global oil supply to exceed demand in the fourth quarter of 2026, returning the market to surplus for the first time since the conflict began, Asharq News reported, citing the agency’s November outlook. Gulf export flows are recovering, but remain below pre-conflict levels. Exports from the Gulf, excluding Oman, reached 18.4 million barrels a day in October. The surplus is a forecast, not an outcome already reached; the October figure reflects the recovery to date, while exports have yet to return to their earlier levels.

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