IEA Slashes 2026 Supply Forecast as Hormuz Reopening Remains Elusive

Summary IEA sees 1.8 million bpd oil market deficit in Q3 Sees 2026 global oil demand contracting by 1.6 million bpd Middle East output 8.3 million bpd below pre-war levels in July Russian refinery runs hovered near 20-year low after Ukrainian drone attacks, IEA says (Reuters) – Global oil ​supply will fall by 4.3 million … Read more