EIA Short-Term Energy Outlook Report: Middle East Supply Disruptions Expected to Continue Through the End of 2026

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ME News report, April 8 (UTC+8), the EIA Short-Term Energy Outlook report states that the expected Middle East supply disruptions will continue until the end of 2026. The Middle Eastern oil production cut caused by the closure of the Strait of Hormuz will rise to 9.1 million barrels per day in April. The report expects the Brent crude and WTI crude price spread to reach a peak of $15 per barrel in April; at that time, Middle Eastern crude oil supply disruptions will reach their maximum level. The report forecasts that the average U.S. retail gasoline price in 2026 will hit a new high since 2022. Global oil demand in 2026 is projected to be 104.6 million barrels per day, lower than the previous forecast of 105.2 million barrels per day; demand in 2027 is expected to be 106.2 million barrels per day, compared with the prior forecast of 106.6 million barrels per day. (Jin10) (Source: ODaily)

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