OPEC Secretary-General Haitham Al Ghais harshly criticized the International Energy Agency (IEA)'s latest report, which stated that there could be a major oil surplus in 2027.

Haisam Ghays stated: "What exactly has the IEA seen that OPEC and others have not? We focus on fundamentals and do not include too many 'ifs' and 'buts' in our forecasts, but instead concentrate on real data." He further criticized this move as "creating a flashy headline to grab attention," and added, "It is best not to make such assumptions when they are not based on facts and data. Ultimately, these headlines only generate more volatility." Regarding the prospects of US-Iran negotiations and the reopening of the Strait of Hormuz, Haisam Ghays also believes it is still too early to draw definitive conclusions about the market outlook.