IEA: Global Oil Supply Rose 2.5M bpd in September

The supply jump is large enough to matter for near-term balances, but the more consequential signal is the IEA's demand projection extending years out, which shapes how producers and refiners plan capacity. For crypto and RWA markets, the read-through is indirect: sustained oil strength feeds inflation expectations and, by extension, the rate backdrop that has driven tokenized real-asset yields. Whether the demand growth materializes as projected, and whether supply keeps pace, is the open question.