The International Energy Agency released a report on the 13th, predicting that the global oil supply growth rate will far exceed the demand growth rate in 2025 and 2026, which may lead to further market imbalances. The report states that due to the decision of eight major oil producing countries, both OPEC and non OPEC, to increase production again in September, it is expected that the global oil supply growth rate will be 2.5 million barrels per day in 2025, an increase of 370000 barrels per day from the previous month's valuation. The growth rate in 2026 will be 1.9 million barrels per day, an increase of 620000 barrels per day from the previous month's valuation. The International Energy Agency predicts that the global oil demand growth rate in 2025 will be 680000 barrels per day, a decrease of 20000 barrels per day from last month's valuation. The growth rate in 2026 will be 700000 barrels per day. The report also shows that since the beginning of this year, the global oil demand growth forecast for the whole year has been repeatedly lowered, with a total of 350000 barrels per day lowered. (New Society)