The International Energy Agency (IEA) warned that escalating tensions between the US and Iran could threaten the expected oil market surplus in 2027. This was reported by Qazaqyia.kz citing Reuters.
According to the IEA report, rising geopolitical risks could lead to higher oil prices and supply disruptions, potentially negating the expected market surplus by 2027. The agency noted that any escalation of the US-Iran conflict would significantly impact the global oil market.