Oil surplus or illusion is the question shaping energy market forecasts for 2026, and this episode explains why the answer may not be what most expect.In this India Energy Week 2026 special episode of The Core Report, financial journalist Govindraj Ethiraj speaks with Energy Expert Anas Alhaji on why forecasts of a massive oil surplus in 2026 may be deeply misleading. Drawing on data, trade flows, and geopolitical realities, the conversation challenges widely cited projections from agencies and financial institutions.The discussion explains why repeated predictions of collapsing oil prices have failed to materialise, despite claims of excess supply. It examines how oil in transit, inventory accounting, strategic petroleum reserves, and shifting global trade routes have distorted the surplus narrative. From Brazil and Kazakhstan to China, Venezuela, and the United States, the episode shows how headline numbers often mask what is actually happening in the oil market.The conversation also looks ahead from an Asia and India perspective. Topics include India’s oil imports, sanctions and geopolitics, Russia’s role in global energy flows, LNG supply expectations, China’s strategic stockpiling, and why energy security is increasingly being driven by strategy rather than market theory.Rather than predicting dramatic crashes or price spikes, this episode offers a grounded view of why oil markets may remain far more balanced than forecasts suggest, and what that means for 2026 and beyond.This episode is essential viewing for anyone tracking global energy markets, geopolitics, and the forces shaping oil prices in the years ahead.Register for India Energy Week 2026: https://www.indiaenergyweek.com/forms/register-as-a-delegate