IEA Sees Bigger Oil Supply Gap as Gulf Recovery Slips into 2027

AI Summary

The International Energy Agency has revised its outlook downward, predicting a larger gap in global oil supply and demand in 2023. Recovery in the Gulf oil-producing region is now expected to slip into 2027, reflecting ongoing supply constraints.

Global oil supply and demand will fall further than previously thought this year, the International Energy Agency said on Friday, as a lack of progress in ending…