Supply to fall by 3.9 million bpd this year before rebounding in 2027, while demand drops for first time since 2020

The agency thus revised its demand forecast downward by 735,000 bpd compared with its May outlook, when it projected a decline of 418,000 bpd

Supply to fall by 3.9 million bpd this year before rebounding in 2027, while demand drops for first time since 2020