US EditionOPEC expects balanced oil market in 2026, moving further away from deficit projection
OPEC+ plans to halt output increases in early 2026 as forecasts show a marginal surplus of 20,000 barrels per day, signaling a shift from previous deficit projections.
- On Wednesday, OPEC said world oil supply is expected to match demand next year, and OPEC+ plans to pause production hikes in the first quarter of 2026 amid oversupply concerns.
- OPEC's forecasts show its 2026 demand forecast for OPEC+ crude lowered by 100,000 bpd after revising 2025 production, differing from International Energy Agency estimates.
- Reuters calculations indicate expected OPEC+ demand at 43.0 million bpd in 2026 implies a marginal surplus, as October output was cut by 73,000 bpd led by Kazakhstan.
- The report shows the gap between OPEC and other forecasters is narrowing, while IEA forecasts imply supply could exceed demand by about 4 million bpd, or almost 4%.
- Shifts from earlier reports show the global economy in 2025 has remained resilient, with last month projecting a 50,000 bpd deficit and September pointing to a 700,000 bpd shortfall.
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OPEC sees balanced oil market in 2026, moves further away from deficit projection
LONDON -World oil supply is expected to match demand next year in a reflection of the wider OPEC+ group's production increases, an OPEC report showed on Wednesday, marking a further shift from its...
OPEC Sees Balanced Oil Market in 2026, Moves Further Away from Deficit Projection - Energy News, Top Headlines, Commentaries, Features & Events
World oil supply is expected to match demand next year in a reflection of the wider OPEC+ group’s production increases, an OPEC report showed on Wednesday, marking a further shift from its earlier projections of a supply deficit in 2026. OPEC+, which groups the Organization of the Petroleum Exporting Countries, Russia and other allies, has ...
Opec expects balanced oil market in 2026, moving further away from deficit projection
Global oil supply will match demand in 2026 in a reflection of the wider Opec+ group's production increases and higher supply from other producers, an Opec report showed on Wednesday, marking a further shift from its earlier projections of a supply deficit.
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