IEA Warns of Oil Glut in 2027 Amid Demand Destruction and Post-War Supply Surge
The International Energy Agency (IEA) has revised down its global oil demand forecast for 2026 due to high prices and supply disruptions from the Iran war. It warns that a post-war rebound could lead to an oversupply of around 8 million barrels per day in 2027, creating a significant overhang despite modest demand recovery.
Topics: global oil market IEA report oil demand supply rebound