Crude Oil Prices Slide as IEA Warns of 2026 Supply Surplus Amid Trade Tensions

Crude oil prices fell by 1.68% as the IEA projected a 2026 surplus amid rising tensions between the U.S. and China, impacting major players like the Indian Oil Corporation.

The International Energy Agency (IEA) warned of a potential global petroleum surplus of up to 4 million barrels per day by 2026, significantly exceeding previous estimates.
Increasing output from OPEC+ and sluggish demand growth, particularly affecting countries like India, are contributing factors to the anticipated surplus in the oil market.
Trade tensions between the U.S. and China have escalated, leading to new tariffs that could further dampen global oil demand and impact companies like ExxonMobil.

Por Qué Es Relevante

The projection of a petroleum surplus could influence global oil prices and market dynamics, affecting major companies such as Hindustan Petroleum and the Indian Oil Corporation, and ultimately impacting consumers worldwide.