Published : 12 Mar 2026, 09:33 PM
Updated : 21 Aug 2026, 03:27 PM
The war in the Middle East is creating the biggest oil supply disruption in the history of the global market, the International Energy Agency said on Thursday, a day after the agency agreed to release a record volume of oil from strategic stockpiles.
Middle East Gulf countries have cut total oil production by at least 10 million bpd - a volume equal to almost 10 percent of world demand - as a result of the conflict, the agency said in its latest monthly oil market report.
Without a rapid restart of shipping flows, these losses are set to increase, IEA said.
