The International Energy Agency (IEA) stated in its latest monthly Oil Market Report, released on Wednesday, that OECD government-controlled oil inventories fell in August to their lowest level since at least December 1989, and declined further in September. The IEA expects global oil demand to decrease by 2.6 million barrels per day year-on-year in 2026, due to multiple pressures including the Iran conflict, damage to Russia's refining capacity, and accelerated depletion of strategic reserves. The report also anticipates that the oil market will remain undersupplied until the end of the year. The report expressed caution regarding the diesel supply agreement reached between Putin and Donald Trump, believing it is unlikely to substantially alter the global diesel market balance.