IEA Forecasts Oil Surplus by 2027 as Hormuz Strait Recovery Progresses
The International Energy Agency (IEA) predicts a significant oil supply surplus of over 5 million barrels per day in 2027, driven by Middle East production recovery following the reopening of the Strait of Hormuz. The forecast follows an interim U.S.-Iran agreement and early signs of increased throughput in the Gulf of Oman.
Topics: global energy market IEA report oil supply Strait of Hormuz