62 Days
Source:
AL24 News
International Energy Agency: US-Iran Tensions Risk Reducing Oil Market Surplus in 2027
The International Energy Agency has reported that the recent escalation in the war between the United States and Iran could impact expectations of the oil market surplus in 2027, especially given the ongoing tensions affecting global supplies. Although oil supplies increased by 4.1 million barrels per day in June, they remain about 9.4 million barrels below pre-war levels. The agency forecasts an increase of 7.5 million barrels per day next year, contingent on improvements in oil tanker transits through the Strait of Hormuz.
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