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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 the expected Middle East supply disruptions will continue until the end of 2026. The Middle East oil production cut caused by the closure of the Strait of Hormuz will increase to 9.10 million barrels per day in April. It is expected that the Brent crude oil and WTI crude oil price spread will reach a peak of $15 per barrel in April; at that time, the interruption of Middle Eastern crude oil supply will be at its maximum. It is expected that the U.S. retail gasoline price will reach a new high since 2022 for the average level in 2026. Global oil demand in 2026 is forecast 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. (Jin Ten) (Source: ODAILY)