Exxon Gains as IEA Forecasts 5.7 Million-Barrel Supply Drop in 2026
Exxon Mobil edged about 0.2% higher to $165.49 as the International Energy Agency projected a growing global supply deficit. The IEA expects worldwide supply to shrink by 5.7 million barrels per day, roughly 6%, in 2026, with inventories draining at 3.1 million barrels per day in August. Normal Gulf production may not return until 2027.