The International Energy Agency has warned that disruptions around the Strait of Hormuz are reducing global oil supplies at an exceptional pace.
According to the agency, the ongoing conflict in the Middle East is expected to lower worldwide oil supply by 3.9 million barrels per day in 2026.
Global oil stocks are depleting at a record pace as supply losses from disruptions to flows via the Strait of Hormuz keep mounting
Producers & consumers are responding to the market signals, with Atlantic crude oil exports surging & refiners cutting runs: https://t.co/cOYraM4phx pic.twitter.com/QWJlPICebi
— International Energy Agency (@IEA) May 13, 2026
In its latest oil market report, the IEA said that more than 10 weeks into the regional conflict, continuing supply interruptions linked to the Strait of Hormuz are rapidly eroding global oil inventories.
The agency added that shrinking emergency reserves, combined with persistent disruptions, could pave the way for fresh spikes in oil prices in the coming months.
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