IEA Sees 5.7 Million Bpd Oil Supply Plunge as Gulf Recovery Slips to 2027 ...Middle East

The IEA just took another 1.4 million barrels per day out of its 2026 global oil supply outlook, and it no longer expects normal Gulf flows to return this year, according to a new agency report released on Friday. Global oil supply is now expected to fall by 5.7 million bpd in 2026, or roughly 6%, compared with the 4.3-million-bpd decline the agency forecast just one month ago. The delayed recovery of Middle Eastern production has pushed the return of normal Gulf supplies into 2027. Global oil stocks fell at a rate of 3.1 million bpd in August,…

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