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IEA warns of ongoing diesel shortage until 2027
The International Energy Agency (IEA) forecasted that global oil supplies will exceed demand by approximately 1.73 million barrels per day in 2026, as challenges stemming from attacks on production and the need to rebuild inventories—especially diesel—increase. This comes amid a weak market balance and expectations that pressure on diesel supplies will continue into the second half of 2027. The agency also indicated a significant decline in diesel exports, dropping by 700,000 barrels per day in September compared to last year, with around 1.3 million barrels per day of supply lost from Russia and the Middle East. Prices remain at record-high levels, reflecting weak inflows and necessitating additional supplies to meet the expected demand.
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