The International Energy Agency (IEA) said in its November Oil Market Report, published on Thursday, that in the third quarter, world oil demand growth “rebounded” to 920,000 barrels per day (bpd), with “stronger deliveries in China” as the main reason behind the rise. According to the data, the increase was “more than double” compared to the second quarter’s demand growth of 420,000 bpd. IEA raised its 2025 global oil demand growth forecast from 710,000 bpd to 790,000 bpd, while the 2026 projection was boosted from 700,000 bpd to 770,000 bpd. Talking about supply, the agency shared that it sees the 2025 world oil supply at 3.1 million bpd, slightly up compared to the previous forecast of 3 million bpd, while the 2026 supply is expected to come in at 2.5 million bpd, up from 2.4 million bpd previously projected.