Global Oil Supply Increased to 98.7 Million Bpd in January – IEA

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International Energy Agency (IEA)
International Energy Agency (IEA)

The global oil supply increased by 560,000 barrels per day to 98.7 million barrels per day in January, the International Energy Agency (IEA) said in a report published on Friday.

“Global oil supply rose by 560 kb/d to 98.7 mb/d in January, but the uptrend was slowed by a chronic OPEC+ under-performance versus targets that has taken 300 mb of oil off the market since the start of 2021,” the IEA said.

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