According to a report by CryptoSlate citing the IEA published on November 13, the IEA has raised its global oil supply forecast for the fourth quarter of 2026 by 3.3 million barrels per day and expects a supply surplus for that quarter. The 3.3 million barrels represents the upward revision in the forecast, not the magnitude of the surplus. The report also noted that global observed inventories increased by 52 million barrels in October, driven by an 86-million-barrel rise in floating storage, while onshore inventories continued to decline to their lowest level since at least 2016. Floating storage is part of the global total and cannot be added to the global inventory increment; the quarterly supply surplus remains a projection.