The International Energy Agency (IEA) stated today that OPEC+ member countries recently decided to postpone the planned production increase, which "greatly reduces" potential supply surplus for next year. Nevertheless, the IEA indicated that given the ongoing production surplus in some OPEC+ member countries, strong supply growth outside the alliance, and moderate global oil demand growth, the oil market in 2025 may still face a serious oversupply. The IEA predicts that even if all of OPEC+’s planned production cuts remain unchanged, supply will exceed demand by about 0.95 million barrels/day next year. The IEA mentioned that if OPEC member countries increase production as planned starting in April, the supply surplus will grow to 1.4 million barrels/day.
IEA月报：欧佩克+的决定减少了潜在的供应过剩
IEA Monthly Report: The decision of OPEC+ has reduced potential supply surplus.
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