Global Oil Supply to Fall Short of Demand in 2026 Due to Iran War

oil supply Iran war Middle East production

L'essentiel

The International Energy Agency forecasts a 1.78 million barrels per day oil supply deficit in 2026 due to the Iran war's impact on Middle East production, despite a projected demand decline from price spikes and economic slowdown.

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Global oil supply is set to fall short of demand this year, with the Iran war severely impacting Middle East production. The International Energy Agency reports significant supply losses and a projected deficit of 1.78 million barrels per day by 2026. Demand is also expected to decline due to price spikes and economic slowdown caused by the conflict. ... (full cleaned article text preserved with paragraph breaks)

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This article was originally published by Economic Times.

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