The International Energy Agency predicts that there will be a daily surplus of over 4 million barrels of oil next year.

On the 13th, the International Energy Agency released its latest monthly report, predicting that global oil supply will continue to exceed demand in the next two years due to increased production by oil-producing countries and slowing demand growth. By 2026, the excess supply could reach an average of 4.09 million barrels per day. According to Reuters, the International Energy Agency's report has issued the latest warning about the global oil market's trend of oversupply. The average of 4.09 million barrels per day is equivalent to about 4% of global demand, which is much larger than what other organizations have predicted for the size of the oversupply.