Forecasts for next year’s oil market differ widely. OPEC expects global demand in 2026 to grow by 1.38 million barrels per day, leaving the market largely balanced. The International Energy Agency, however, sees demand growth at just 700,000 barrels per day, resulting in a possible surplus of up to 4 million barrels per day. A Reuters poll suggests a more moderate surplus of around 1.6 million barrels per day.