Soaring crude oil supply will lead to a record glut later this year and in early 2026 as demand growth will continue to disappoint, according to the International Energy Agency (IEA). The agency has now downgraded its expectations of global oil demand growth in six out of eight monthly oil reports so far this year. The latest report out this week was no exception and reaffirmed the IEA’s view since the spring that a large glut is coming later this year once the peak summer season is over. In the IEA’s forecast, demand growth is much…