Nearly Half of Global Oil Supply Comes from Conflict-Affected Countries
According to Reuters calculations, nearly half (43%) of the world's oil supply in 2026 comes from countries affected by conflict. This includes ongoing tensions following U.S. and Israeli attacks on Iran six months ago, as well as conflicts in Ukraine, Libya, and Venezuela. The situation has led to significant disruptions across global energy markets. The Russia-Ukraine war has reduced production and refining capacity, while Kazakhstan also experienced supply cuts this year. Meanwhile, the Gulf remains a focal point of disruption with an estimated 5-7 million barrels per day affected due to rerouted shipments and attacks on key shipping corridors like the Red Sea and Suez Canal. Global dependence on U.S. oil production has increased amid these disruptions, though American output is also vulnerable to weather-related interruptions. Fuel shortages in Russia have led to export bans of gasoline and diesel, further tightening global fuel markets.
Topics: conflict-affected countries geopolitical risk oil supply disruption