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Oil Surplus at Risk from U.S.-Iran Tensions | US News
Oil market stability is hanging by a thread as U.S.-Iran tensions reignite, threatening to derail the International Energy Agency’s forecast of a looming global surplus. Despite a recent four-million-barrel-per-day supply boost thanks to the Strait of Hormuz reopening, global output still trails pre-crisis levels by nearly nine million barrels daily. The IEA warns that lasting peace is essential for markets to normalize, with long-term projections showing supply could outpace demand by 2027 — but only if producers and refiners can operate without disruption. With demand expected to dip this…
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