IEA Flags Slower Oil Demand Growth and Possible Surplus as Brent Extends Monthly Gains

Oil markets digested comments from International Energy Agency chief Fatih Birol, who said global oil demand is rising by less than one million barrels per day and warned of a likely sizeable surplus, putting focus on potential OPEC+ supply responses. The outlook raised questions over the sustainability of recent gains in Oil – Brent Crude, with investors weighing weaker demand growth against ongoing producer discipline.

Over the past month, Oil – Brent Crude has climbed about 10.2%, reflecting earlier supply concerns and risk appetite, though Birol’s comments may temper expectations for further upside if surplus volumes materialize. The 1-day technical outlook for Brent stands at Strong Buy, indicating bullish momentum in the near term despite an increasingly cautious fundamental backdrop. Investors can explore more updates, prices, and analysis across global markets at Commodities.