IEA Sees Wider Oil Supply Deficit Despite Hit to Demand From War

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Global oil inventories will tumble this quarter at more than twice the rate previously estimated as the Iran war flares again, even as the hit to demand from high prices deepens, the International Energy Agency said. Oil markets face a shortfall of 1.8 million barrels a day as “renewed hostilities and maritime disruptions” undermine a production recovery, the IEA said in its monthly report. For 2026 as a whole, the deficit will likely be the widest in five years.

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