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Energy warns on diesel shortage effects
The International Energy Agency warned that global diesel supplies will remain constrained until 2027 due to tensions in the Middle East and declining exports from Russia and Asia. It explained that increased shipments from the United States and China have not offset the export shortfall, leading to higher diesel prices and negatively impacting the cost of goods, economic activity, and inflation. Expectations are for further price increases in European, African, and Latin American markets in the coming weeks. The agency plans to implement rapid releases of emergency oil reserves to address these impacts.
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