IEA Maintains 2026 Oil Supply Decline Forecast of 5.7M bpd

The IEA's monthly report retains its projection of a 5.7 million bpd decline in global oil supply for 2026, bringing total supply to 100.7 million bpd. The forecast is unchanged from prior estimates, indicating no shift in the agency's view of market balances. This matters as it reinforces expectations of tightening supply, which could support oil prices.