Energy and oilUpdated 9h ago

IEA forecasts a quarterly oil surplus as prices fall

Asharq News, citing the International Energy Agency’s monthly report, says global oil supply is projected to exceed demand by about 2 million barrels a day in the current quarter. The agency still forecasts an average supply deficit of 685,000 barrels a day across 2026. IEA member countries also plan to release an additional 71 million barrels from emergency stocks through the end of February 2027; these are planned releases, not completed ones. Asharq News reports benchmark crude prices have fallen about 18% during November to date.

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