Mumbai, Nov. 14 -- International Energy Agency or IEA stated in its latest monthly update that world oil demand is forecast to fall by 2.7 mb/d in 2026, to 102.3 mb/d, before rebounding by 2 mb/d in 2027. The year-on-year decline is set to ease to 2.7 mb/d in 4Q26, from an average 4.4 mb/d over 2Q26 and 3Q26. LPG/ethane and naphtha will account for around 80% of the increase next year as supply chains normalise, while transport fuels will see very modest gain, as high prices accelerate electrification and fuel efficiencies across the global car fleet.
Following an increase of 3 mb/d in September, global oil supply rose by a further 2.3 mb/d to 105.4 mb/d in October on lofty Gulf exports despite ongoing attacks on energy infrastructure and ...