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The International Energy Agency expects global oil supply to exceed demand in the final quarter of 2026, after supply rose by 3 million barrels per day in September and 2.3 million barrels per day in October. Gulf shipments reached 18.4 million barrels per day, though they remained 26% below pre-war levels. The agency expects global demand to fall by 2.7 million barrels per day this year, while diesel prices rose to $180 a barrel in October—nearly 77% above their pre-war level—amid fears of supply shortages.
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