OPEC+ Faces a 2027 Oil Glut as Supply Outpaces Demand Eight-to-One

The IEA projects global oil supply will rise 8 million barrels daily in 2027 while demand grows just 1 million. That imbalance threatens a return to pre-war oversupply. OPEC+ announced cuts in July, but faces a bind: cut deeply and lose market share, or cut lightly and worsen the surplus.