The International Energy Agency (IEA) has announced in its latest report that global oil supply and demand will decline more than previously predicted this year. This international body specifically points to the impacts of the Iran war on the oil market and emphasizes that the lack of progress in resolving this crisis will prevent a return to normalcy in oil flows in the Gulf.
Consequences of the Iran War on the Oil Market
While it was expected that oil flows would return to normal with a reduction in tensions in the region, existing realities show that this event has been delayed. The Iran war, recognized as one of the deep and complex crises in the Middle East, has directly affected oil supply and caused severe fluctuations in prices and oil availability.
The IEA report indicates that if this situation continues, the gap between supply and demand will increase in 2026. Experts believe that this may lead to rising oil prices in global markets and have widespread economic repercussions for countries dependent on oil exports.
Future Outlook
Given the current conditions and the lack of progress in resolving tensions in the Gulf, the future of the oil market appears to be severely bleak. The International Energy Agency urges oil-producing countries to manage this crisis with appropriate measures and strive to save the market from severe fluctuations.
