14 Hrs
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الاقتصادية
Oil flows stabilize, will prices follow
Oil prices have risen above $100 per barrel due to supply constraints and expectations of increased global demand, amid ongoing Middle East conflict which has led to decreased production and reduced flows from the region, especially from the Gulf. Since February 2023, global inventories have decreased by 507 million barrels. Security tensions and negotiations disputes between the United States and Iran have hindered the restoration of normal production levels, adding further pressure on the market. The International Energy Agency forecasts that oil demand will increase by 2.6 million barrels per day next year, with around 20 million barrels per day passing through the Strait of Hormuz. This fuels concerns about the continued rise in prices and its impact on the global economy.
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