In September this year, the average daily global oil supply increased by 2.5 million barrels compared to the previous month, reaching 102.3 million barrels, APA-Economics reports, citing the October report of the International Energy Agency (IEA).
According to the report, the average daily oil supply from OPEC+ countries increased by 2.1 million barrels. Saudi Arabia accounted for the largest share of this increase. Among countries not participating in the OPEC+ agreement, the United Arab Emirates made the largest contribution to the increase.
At the same time, the renewed intensification of attacks in the Persian Gulf region is keeping the recovery of oil supplies fragile.
According to the IEA's forecast, the average daily global oil supply will decrease by 5.8 million barrels to 100.7 million barrels in 2026. In 2027, the figure is expected to increase by 7.7 million barrels.
It should be recalled that OPEC+ is an initiative involving OPEC and non-OPEC countries to reduce oil production in order to balance the market. Azerbaijan is also a participant in the OPEC+ agreement.
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