The International Energy Agency released its latest monthly report on the 21st, predicting that global oil demand will increase by an average of 930000 barrels per day in 2026, higher than the daily increase of 860000 barrels predicted in last December's monthly report. The report also points out that the global oil demand growth in 2026 will still come entirely from non OECD countries. The report predicts that global crude oil supply will increase by 2.5 million barrels per day to 108.7 million barrels per day in 2026. The report points out that in January of this year, the benchmark crude oil price rose by $6 per barrel due to factors such as the situation in Iran and Venezuela. However, as geopolitical tensions eased, oil prices began to fall from mid month. The report states that the global economy has adapted and recovered to the impact of the excessive tariffs imposed by the United States in 2025, and oil prices have fallen compared to the same period last year, which has driven an increase in global oil demand. Reuters reported that global oil supply is expected to exceed demand by 3.69 million barrels per day this year, slightly narrowing the previously reported excess scale. (New Society)