IEA warns 2026 oil supply gap will widen on delayed return of normal Gulf flows
The agency said record fuel prices and tanker attacks are speeding inventory draws as world oil supply is now expected to fall 6% in 2026.
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The International Energy Agency estimates that demand will be reduced by 2.5 million barrels per day by 2026. The organization worsens its calculations and estimates that the war has already brought 5.7 million barrels per day out of the market.
The IEA adjusts the demand for oil by 2026, affected by tensions in the Middle East and high prices. Projected consumption is 102.44 mb/d. The conflict between Iran and the US in the Strait of Hormuz and the fall in Gulf exports impact global production, which would recover in 2027.
Today, Friday, the International Energy Agency (IEA) said: the global oil supply as well as the demand for it will be lower than expected earlier this year, as the lack of progress towards ending the war in the Middle East delays the return of oil flows to normal levels for a year and drives fuel prices to rise.
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IEA warns 2026 oil supply gap will widen on delayed return of normal Gulf flows
LONDON: Global oil supply and demand will fall further than previously thought this year, the International Energy Agency said on Friday (Sep 11), as a lack of progress in ending the Iran war delays the return of normal Middle East flows into 2027 and sends fuel prices soaring.An increase in attacks on oil ta
Global daily oil supply will fall by 5.7 million barrels to 100.7 million barrels this year, the International Energy Agency (IEA) said in its monthly report on the oil market on Friday. It had predicted a drop of 4.3 million barrels per day in its July report.
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