Oil Market Can’t Absorb Increase in Supplies, IEA’s Bosoni Says

Toril Bosoni, the President of the Oil Markets at the International Energy Agency, discusses oil materials, prices and OPEC+ production. In a statement on Thursday, IEA looks even bigger as the OPEC+ production of a record oil surplus for next year continues to revive the OPEC+ production and the group’s competitors increase. According to the report, the world production will exceed an average of 3.33 million barrels per day in 2026, about 360,000 more than expected a month ago.