International Energy Agency: Diesel supply crisis may extend until 2027
Agencies1 min read
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The International Energy Agency has projected that the diesel supply shortage will continue until 2027, amid declining inventories to low levels and production constraints ahead of peak winter demand.
In its monthly oil market report, the agency stated that diesel refining profit margins reached record levels of about $95 per barrel in September, with production falling sharply due to a decline in refining capacity resulting from attacks linked to the US war on Iran.
It added that diesel markets continue to face significant pressure, noting that prolonged supply disruptions have led to inventory drawdowns, contrary to the typical pattern in the period preceding autumn refinery maintenance and peak winter demand.
