IEA flips oil market outlook to Q4 2026 surplus
The IEA now sees a 1.7M bpd supply surplus in Q4 2026, reversing an earlier deficit forecast, as inventories rose 52M barrels in October.
What we know
The IEA said it sees a 1.7M bpd surplus in Q4 2026 versus a prior deficit forecast, with a larger build in 2027. Observed inventories rose 52M barrels in October, the first rise since June, and member countries plan to release a further 71M barrels of emergency stocks through end-February 2027. The FT reports that Gulf shipments have rebounded.
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“IEA SAYS SEES OIL MARKET IN 1.7 MILLION BPD SUPPLY SURPLUS IN FOURTH-QUARTER 2026”
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