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IEA: Repeated Gulf attacks jeopardize fragile oil supply recovery
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The International Energy Agency (IEA) has reported that renewed attacks in the Gulf are jeopardizing the fragile recovery of global oil supply, which is expected to decline by 5.8 million barrels per day this year. In its monthly Oil Market Report released today, the IEA noted a month-on-month increase of 2.5 million barrels per day in September, largely driven by Gulf producers. However, ongoing assaults on energy infrastructure and tanker traffic pose significant risks to future supply gains. Additionally, the IEA forecasts a drop in oil demand by 2.6 million barrels per day in 2026, with diesel prices remaining high despite recent easing.
The Radius summarizes this story. Read the original report from TRN Business.
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