Global Oil Supply Has Dropped 12.8 Million Barrels a Day – No Quick Fix Ahead?

The International Energy Agency (IEA) said global oil markets will remain severely undersupplied through the end of the third quarter of 2026, even if the US-Iran conflict ends by early June. The oil shock from the war has destabilized markets, prompting many countries to take measures to conserve fuel. Why a Firm Ceasefire Will Not