IEA’s Forecast Takes a Chill Pill as Weather Cuts Into Supply Alleviating its oversupply doom and gloom, the International Energy Agency (IEA) has revised its outlook for the magnitude of this year’s production glut, citing weather-related outages in Q1 2026. In the January 2026 edition of the IEA’s monthly report, the international organization found that global supply dipped by a surprise 1.2 million b/day, defying expectations of oversupply. Cold snaps across the United States and a power outage-driven closure of Kazakhstan’s…