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Global oil supply drops in November; IEA cuts surplus estimates amid stronger demand

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Global oil supply drops in November; IEA cuts surplus estimates amid stronger demand
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Dec. 11, 2025 4:54 AM ETCrude Oil Futures (CL1:COM), XLE, UCODBO, UNG, FCG, USL, SCO, UNL, BNO, BOIL, KOLD, GUSH, DRIP, USOI, CO1:COM, NG1:COMBy: Arundhati Sarkar, SA News Editor

The International Energy Agency on Thursday said global oil supply fell by 610 kb/d in November, extending the decline from September’s record of 109 mb/d to 1.5 mb/d.

OPEC+ accounted for over three-quarters of the total decrease, led by sanctions-hit Russia and Venezuela. Russian



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