April 12, 2026 — IEA Warns of Potential Supply Shortfall in Late 2026.
IEA Supply Outlook
The International Energy Agency has warned that the global oil market faces a potential supply shortfall as demand continues to grow while investment in new production capacity remains constrained. The agency's latest Oil Market Report projects demand reaching 104.5 million bpd by Q4 2026, while effective supply — accounting for Hormuz disruptions — may struggle to keep pace. IEA Executive Director has called for 'urgent investment in upstream capacity' to prevent sustained high prices.