Current trends indicate that the volume of new supply next year will exceed growth in consumption, suggesting that once again, the market will rely on global inventories to absorb the overhang. Energy Intelligence sees global liquids supplies increasing by 1.25 million barrels per day in 2027 to 108.6 million b/d. That compares to additions of 2.1 million b/d expected this year and 2.8 million b/d in 2025. Consumption will grow by 730,000 b/d to 105.6 million b/d, according to the forecast — down 17% from 2026's expected level — indicating a 500,000 b/d shortfall versus the expected gains on the supply side. On top of the 2.5 million b/d surplus currently forecast this year, 2027 balances suggest an inventory build of 3 million b/d.