The International Energy Agency (IEA) has revised upwards its estimates for global oil demand for 2026, now anticipating a larger increase than in previous forecasts.

According to the new projections, global demand is expected to increase by approximately 930,000 barrels per day, compared to the previous estimate of 860,000 bpd, which would bring total consumption to about 105 million barrels per day in 2026, up from 104 million in 2025. At the same time, global oil supply is expected to rise significantly, generating a surplus of approximately 3.7 million barrels per day, which alleviates concerns about geopolitical risks to the market. However, the new IEA forecasts remain below the estimates of the Organization of the Petroleum Exporting Countries (OPEC)