Paris: The International Energy Agency (IEA) has lowered its forecast for the growth rate of daily global oil supply for this year, APA-Economics reports citing the monthly report of the International Energy Agency.

According to Azeri-Press News Agency, the forecast indicates that this year the daily global oil supply will increase by 1.3 million barrels, which is 0.2 million barrels less than the previous forecast, reaching a total of 104.3 million barrels.

The report also notes that by 2026, the growth rate of daily global oil demand is expected to reach 0.95 million barrels.