PARIS, Nov 13, 2026 (Net) – Global oil supplies are expected to exceed demand in the fourth quarter, after increased Gulf exports led to a market surplus in October for the first time since the Iran war, the International Energy Agency said Friday.
Even though attacks on tankers trying to transit the Strait of Hormuz have continued, Gulf shipments reached 18.4 million barrels per day (mb/d) — though that was still 26 percent below prewar levels, the Paris-based agency said in its monthly report.
