IEA sharply lowers forecast for global oil production growth

The International Energy Agency (IEA) has more than halved its forecast for the growth rate of global average daily oil production in 2026, citing the agency's monthly report.
 

According to the agency’s forecast, global average daily oil production will increase by 1.11 million barrels in 2026, reaching 107.23 million barrels per day.

Under the previous forecast, the IEA expected global daily oil production to rise by 2.39 million barrels to 108.56 million barrels per day.