IEA: Global Oil Supply to Fall 3.9M Barrels Daily in 2026 Amid Iran War Disruptions

According to the International Energy Agency (IEA), global oil supply is expected to decline by 3.9 million barrels per day in 2026 due to supply disruptions caused by the Iran war, while demand is projected to fall by only 420,000 barrels per day. The Middle East has already lost more than 1 billion barrels of production, IEA said in its monthly oil market report.
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