A post by @FirstSquawk on X.

The U.S. Energy Information Administration left its 2026 world oil demand forecast unchanged at 102.4 million barrels per day but lowered its 2027 demand estimate to 104.4 million bpd from 104.6 million bpd. The agency simultaneously raised its 2026 world oil output projection to 101.7 million bpd from 101.1 million bpd, while cutting its 2027 supply forecast to 108.4 million bpd from 109.6 million bpd. The revisions imply a slightly larger supply surplus in 2026 than previously modeled, even as the 2027 supply outlook tightens alongside weaker demand. The 2026 demand figure holding steady suggests the EIA sees near-term consumption resilient despite softer longer-run expectations. Traders will watch whether the widening 2026 output estimate pressures crude benchmarks and whether subsequent monthly reports confirm the downgraded 2027 demand and supply trajectory.