World oil supply will rise more rapidly than expected this year and next as OPEC+ members further increase output and supply from outside the group grows, the International Energy Agency said on Wednesday.

Global oil markets are on track for a record surplus next year as demand growth slows and supplies swell, the International Energy Agency said.

The International Energy Agency says the world is heading straight into a record-breaking oil surplus in 2026, as global demand growth slows down and producers keep cranking out more supply. In a report released from Paris,