IEA Monthly Report: Global oil demand is expected to increase by 1.9 million b/d by 2027. Global oil supply rebounded 4.1 million b/d in June to 98.8 million b/d. Non-OPEC production is expected to increase by 2.2 million b/d in 2027. OPEC+ production increased by 2.5 million b/d in June. Global crude oil demand is expected to increase by 1.2 million b/d in the fourth quarter. The recovery in global oil demand is underway.

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