mniraq - The International Energy Agency announced today (Friday, September 11) that it expects a "deficit" in oil supply to the global market to continue until next year.
The agency said in a statement that global oil markets will suffer from a "continuing deficit, expected to worsen in the coming period as a result of the continuation and expansion of the conflict in the Middle East," explaining that "global supply fell by about 95 million barrels last month."
The agency indicated that it "does not expect the level of exports from Gulf countries to recover during the current year," stressing that they "may begin to recover during next year, in the hope that they will return to their normal levels before the outbreak of the conflict."
