global oil supply News

OPEC+ Announces Significant Oil Production Increase of 548,000 bpd Starting September

OPEC+ has agreed to increase oil production by 548,000 bpd from September, aiming to adjust global supply and ensure market stability. The decision reflects the group's adaptive st...

Global Oil Demand Growth Faces Downturn: IEA Cuts Forecast for 2025 and 2026

The IEA has revised its global oil demand growth forecasts downward for 2025 and 2026, signaling a slower growth pace. Meanwhile, supply forecasts have been adjusted upwards follow...

IEA Downgrades 2025 Oil Demand Outlook Amid Changing Global Dynamics

The International Energy Agency has adjusted its 2025 global oil demand growth forecast to 1.05 million bpd, citing factors like lower fuel prices and colder weather. It also expec...