IEA: US-Iran escalation threatens 2027 oil surplus forecast

Middle East Eye · July 11, 2026 Sanctions

IEA: US-Iran escalation threatens 2027 oil surplus forecast The International Energy Agency (IEA) predicts supply will expand by 7. 5 million bpd next year after a 3. 7 million bpd contraction this year, but that is contingent on improved Hormuz transits.