Oil market: Oil supply recovers for the first time since the Iran war
The International Energy Agency (IEA) sees movement towards more stable oil markets for the first time in months. However, the recovery is not progressing equally in all areas.
The International Energy Agency (IEA) reports that the global oil supply is showing signs of recovery, for the first time since the Iran war began. The worldwide oil supply has surpassed demand, with global stocks increasing by 52 million barrels in October. Oil exports from Gulf states, excluding Oman, reached 18.4 million barrels per day last month, still 26 percent lower than pre-war levels. The IEA expects further recovery in the global oil supply for 2027, with demand predicted to rise again from March 2027.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
