EIA Cuts 2026 Global Oil Output Forecast, Sees Slight Demand Dip
The U.S. Energy Information Administration lowered its 2026 world oil production forecast to 100.8 million barrels per day, while demand was trimmed to 102.7 million bpd.
The EIA revised its outlook for the global oil market.
- 2026 output: 100.8 million bpd (prior 101.9 million)
- 2026 demand: 102.7 million bpd (prior 102.8 million)
- 2027 output: 109.7 million bpd (prior 109.8 million)
- 2027 demand: 105.0 million bpd (prior 104.8 million)
The downward revision to 2026 supply was sharper than the small demand cut, which could point to a tighter market. Next year’s demand was nudged higher while supply was trimmed slightly.
Source: First Squawk