EconomyIEA slashes 2026 supply forecast as Hormuz reopening remains elusive
The International Energy Agency says global oil supply is set to decline by 4.3 million barrels per day this year, equivalent to roughly 4%. In its monthly oil market report issued on Wednesday, the agency linked the forecast to renewed hostilities in the Middle East. It warned that the conflict could push the world deeper into an oil-market deficit. The reopening of the Strait of Hormuz remains out of reach.
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Reuters★★★★☆2026-08-12 13:25Original
IEA slashes 2026 supply forecast as Hormuz reopening remains elusive
Economy