Global Oil Data Deck (February 2026)

Summary

The February 2026 Global Oil Data Deck reveals that the worldwide liquids market, still heavily oversupplied, finally tightened in December—the first such move in six months—signaling the end of the most oversupplied year since 2020. Production fell in December mainly due to operational setbacks in Kazakhstan, yet overall global supply grew at more than three times the pace of demand growth recorded in 2025. The report, packed with data visualizations, underscores the persistent imbalance between supply and demand and highlights regional production challenges that could shape future market dynamics.