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Aug 12, 2026
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Global Oil Supply to Fall 4%

OBBM Network Editorial Staff
August 12, 2026
Global Oil Supply To Fall 4

The International Energy Agency (IEA) has reduced its global oil supply forecast for 2026 by 4.3 million barrels per day, or around 4%, due to the ongoing conflict in the Middle East.

Impact on Oil Market

This decrease in oil supply is expected to lead to a deeper oil-market deficit. The IEA’s latest forecast puts total supply at 102.02 million barrels per day, the lowest forecast yet for this year.

Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.

OBBM Network Editorial Staff

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Editorial team behind OBBM Network — independent, hyper-local journalism syndicated through HyperLocalLoop and OBBM Network TV.

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