European think tank: Oil market supply-demand imbalance will continue until 2027
A research report from the Bruegel Institute indicates that global oil market imbalances will persist until 2027, even if the Strait of Hormuz reopens soon. The report highlights that the conflict in the Middle East has effectively closed the strait, causing a significant energy supply shock. The International Energy Agency estimates a daily global oil supply deficit of 12.8 million barrels since shipping disruptions began. AI