The International Energy Agency forecasts an oil market surplus in the fourth quarter, with member countries releasing additional reserves.

智通财经2026/11/13 09:36

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The International Energy Agency stated in its monthly report on Friday that the global oil market will see a daily supply surplus of 1.7 million barrels in the fourth quarter of 2026, whereas it had previously forecast a supply shortage.
The agency said November's balance sheet indicates the global oil market will return to surplus in the fourth quarter of 2026, with an even larger stock build-up expected in 2027.
The International Energy Agency noted that the oil market is showing initial signs of rebalancing, with global oil supply exceeding demand for the first time since the outbreak of the Iran war.
The agency said its member countries plan to further release 71 million barrels of emergency crude oil and refined products inventories by the end of February 2027.
The International Energy Agency stated that diesel is the focus of the product release, with plans to release about 15 million barrels of diesel by the end of February.
The agency noted that oil inventories observed in October increased by 52 million barrels, marking the first rise since June.

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The International Energy Agency forecasts an oil market surplus in the fourth quarter, with member countries releasing additional reserves.

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