IEA raises forecast for global oil production growth in 2025

Global oil production growth by the end of the current year will amount to 2.5 million barrels, Report informs referring to the monthly update of the International Energy Agency (IEA).

Thus, the IEA has increased its forecast by 400,000 barrels per day (bpd), and now expects that production will average 105.5 million bpd.

"Global oil production will grow by 2.5 million bpd, to 105.5 million barrels this year, and by another 1.9 million bpd, to 107.4 million barrels, in 2026," the update says.

A month earlier, the IEA predicted that production would grow by 2.1 million bpd, to 105.1 million bpd. The agency increased its growth forecast by 400,000 bpd.