September 11, 2026 [Oil Price]- The International Energy Agency (IEA) has revised its 2026 global oil supply outlook, predicting a decline of 5.7 million barrels per day (bpd), up from a previous estimate of 4.3 million bpd. The recovery of Middle Eastern oil production has been delayed to 2027, with Saudi Arabia’s output dropping to a 30-year low of 6 million bpd due to attacks on facilities. Global oil consumption is now expected to fall by 2.5 million bpd this year, driven by high fuel prices and refinery disruptions. OPEC, however, anticipates a slight increase in consumption by 380,000 bpd.
 
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