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EIA Short-Term Energy Outlook Report: Middle East supply disruptions expected to continue until the end of 2026
ME News, April 8 (UTC+8): The EIA Short-Term Energy Outlook report says the disruption to Middle East supplies is expected to continue through the end of 2026. The Middle East oil production cuts caused by the closure of the Strait of Hormuz are expected to rise to 9.1 million barrels per day in April. It is expected that the Brent crude–WTI crude price spread will reach a peak of $15 per barrel in April, when the disruption to Middle Eastern crude oil supply will be at its maximum. It is forecast that the average U.S. retail gasoline price in 2026 will hit a new high since 2022. Global oil demand in 2026 is expected to be 104.6 million barrels per day, down from the previous forecast of 105.2 million barrels per day; demand in 2027 is expected to be 106.2 million barrels per day, down from the previous estimate of 106.6 million barrels per day. (Jin10) (Source: ODaily)