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The Economic Times
The Economic Times
Business
Anupam Nagar

Conflict-hit oil supply crisis deepens as nearly half of global output comes from affected countries

Oil United States Russia Ukraine Iran Libya Venezuela

Nearly half of the world's oil supply is now coming from countries affected by conflict, highlighting the scale of disruption facing global energy markets in 2026 and eclipsing several previous oil crises.

Reuters calculations based on International Energy Agency data show that countries affected by conflicts involving Iran, Russia, Ukraine, Libya and Venezuela produced around 45 million barrels per day of oil in 2025. That represented more than 43% of global oil supply.

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