
The International Energy Agency has lowered its estimate of global oil production for 2026 by 1.4 million barrels per day.
The International Energy Agency cut its 2026 global oil production forecast by 1.4 million barrels per day to 100.71 million barrels per day, according to a September report.
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The IEA regularly publishes reports with forecasts for the global oil market.
The International Energy Agency (IEA) has downgraded its forecast for global oil production in 2026 by 1.4 million barrels per day and now expects it to decline by 5.67 million barrels per day, to 100.71 million barrels per day, the agency said in a September report.
According to the attached table, this year oil production will decrease by 5.67 million barrels per day compared to last year, which is 1.4 million barrels per day more than the 4.27 million barrels per day predicted a month ago.
At the same time, global oil production in 2026 is expected to reach 100.71 million barrels per day, compared to 102.02 million barrels per day in the previous report.
In addition, the energy agency has revised its production estimate for 2025 upward. The IEA believes that last year oil production reached 106.38 million barrels per day, up from 106.29 million in the previous report.

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