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🚜 Today’s Market News –  Energy Update

📊 Big Oil Surplus Predicted for 2026
According to the latest report from the International Energy Agency (IEA), the world could be swimming in extra oil by 2026. Why? Two reasons:

1. Oil demand (how much people use) is growing slower than expected.

2. Oil supply (how much is being produced) is increasing fast—especially as OPEC countries ramp production back up.

The IEA expects global oil use to rise slightly in 2025 and 2026, but not as much as once thought. Meanwhile, countries are producing more than ever, which could mean lower prices ahead unless demand picks up.

🛢️ India Eyes Discounted Russian Oil Again
India’s oil companies are looking to buy cheaper Russian oil again. Prices recently dropped by about $2.70 per barrel, making Russian oil more attractive. Last month, India paused these purchases—waiting to see if new U.S. sanctions would hit. If no new penalties come from the upcoming Trump-Putin meeting, expect India to start buying Russian crude again, which could impact global fuel prices.

🤝 Trump and Putin to Meet in Alaska
President Trump and Russian President Putin are scheduled to meet Friday in Alaska to talk about ending the war in Ukraine. This is their first sit-down since Trump returned to office.
The big questions:

• Will the U.S. ease sanctions on Russian oil?

• Will Russia agree to a peace deal or just try to hold onto land it’s already taken?

The outcome of this meeting could shift global oil supply, so markets are watching closely.

🌍 Market Overview

Oil prices are holding steady today as investors wait to see what happens at the Trump-Putin meeting.

• A peace deal might increase the global oil supply.

• On the flip side, weak economic numbers from China and talk of rising U.S. interest rates are keeping markets cautious.

For now, things are quiet—but that could change quickly based on the summit outcome.

📉 Energy Highlights: Slower Growth in China Could Hit Oil Demand

China’s economy—the world’s second largest—is showing signs of slowing down.

• Factory production and retail sales were both weaker than expected in July.

• A struggling real estate market and cautious shoppers are holding back growth.

Why does this matter? China uses a LOT of oil. If their economy cools down, they won’t need as much fuel—which could push prices down even more around the world.

📞 Want to know what this could mean for your farm fuel budget? Give your account manager a call—we’re here to help you stay ahead.