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Crude Oil July 15, 2025 07:46:43 AM

IEA: Global Oil Supply Growth to Accelerate in 2025

Anil
Mathews
OilMonster Author
The global oil supply saw sharp increase in June this year, led by boosted output from Saudi Arabia.
IEA: Global Oil Supply Growth to Accelerate in 2025

SEATTLE (Oil Monster): The International Energy Agency (IEA) stated that world oil demand growth is forecast to witness a jump of 700 kb/d during the current year. This is the lowest rate since 2009, with the exception of 2020, when Covid-19 pandemic had badly hit market trends.

The annual growth recorded sharp decline from 11 mb/d in the first quarter of the current year to just 550 kb/d in Q2 2025, mainly due to lacklustre consumption in emerging markets. Meanwhile, IEA expects the global oil demand to expand by 720 kb/d to reach 1044 mb/d in 2026.

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The global oil supply saw sharp increase in June this year, led by boosted output from Saudi Arabia. The output posted year-on-year growth of 2.9 mb/d, with OPEC countries accounting for 1.9 mb/d. The world oil supply is projected to increase by 2.1 mb/d to 105.1 mb/d this year, followed by an additional increase of 1.3 mb/d in 2026.

The observed oil inventories surged by 73.9 mb to 7,818 mb in May this year. As per preliminary data, the global oil stocks rose further in June.

The benchmark crude oil prices rose by nearly $7/bbl in June. The prices soared in mid-June, following Israeli air strikes on Iran’s military and nuclear targets. However, the prices returned to pre-conflict levels following the ceasefire agreement between the two nations. The price indicators suggest to a tighter physical oil market, IEA said.


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