World oil supply will rise more rapidly than expected this year and next as OPEC+ members further increase output and supply from outside the group grows, the International Energy Agency said on Wednesday.

OPEC+ producers raised their combined crude oil production in July by less than planned, with Saudi Arabia's supply data showing discrepancies.

Oil supply from countries outside the Declaration of Cooperation - the formal name for OPEC+ - will rise by about 630,000 barrels per day in 2026, OPEC said, down from last month’s forecast of 730,000 bpd.