A post by @FirstSquawk on X.

The U.S. Energy Information Administration raised its 2026 world oil output forecast to 101.7 million barrels per day from 101.1 million bpd, while trimming its 2027 production estimate to 108.4 million bpd from 109.6 million bpd. The agency kept its 2026 world oil demand forecast unchanged at 102.4 million bpd and lowered its 2027 demand view to 104.4 million bpd from 104.6 million bpd. The revisions imply a modest supply shortfall in 2026, with demand outpacing output by about 0.7 million bpd, before the balance shifts to a roughly 4.0 million bpd surplus in 2027 as production growth outruns consumption. The mixed revisions matter for oil traders gauging the timing of any rebalancing in global crude markets. Watch next for whether the EIA's demand-side estimates hold up against actual consumption data and how OPEC+ supply policy responds to the projected 2027 surplus.