2026 conflicts impact 43% of oil
Reports confirm that more than 43% of the global oil supplies depend on countries affected by conflicts in 2026, including Iran, Russia, Libya, and Venezuela, which together produce around 45 million barrels per day. Attacks on Iran, unrest in Libya, and the Russia-Ukraine war have caused widespread disruptions impacting global energy markets. Gulf countries are increasingly relying on shipments through the Strait of Hormuz and on U.S. supplies, which have also experienced disruptions. These conflicts have led to a 10% reduction in global refining capacity, soaring fuel prices, a significant decline in global stocks, and increased reliance on emergency reserves to manage these crises.
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