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EIA Short-Term Energy Outlook Report: Middle East supply disruptions expected to continue until the end of 2026
ME News message, April 8 (UTC+8), the EIA Short-Term Energy Outlook report states that Middle East supply disruptions are expected to continue through the end of 2026. The Middle East oil production reduction caused by the closure of the Strait of Hormuz will increase to 9.1 million barrels per day in April. The Brent-WTI crude oil price spread is expected to reach a peak of $15 per barrel in April; by that time, Middle East crude oil supply disruptions will reach their maximum. It is forecast that the average U.S. retail gasoline price in 2026 will hit a new high since 2022. Global oil demand in 2026 is expected to be 104.6 million barrels per day, lower than the prior forecast of 105.2 million barrels per day; demand in 2027 is expected to be 106.2 million barrels per day, down from the earlier forecast of 106.6 million barrels per day. (Jin10) (Source: ODaily)