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The Economic Times
The Economic Times
Business

IEA sees gradual Hormuz recovery tipping into significant 2027 surplus

IEA Oil United States International Energy Agency Strait of Hormuz Middle East Iran

The oil market will move into a significant supply surplus in 2027 after recovering from the closure of the Strait of Hormuz, the International Energy Agency said in its monthly oil market report on Wednesday.

The U.S. has announced an interim agreement to end the Iran war, which includes Iran reopening the strait and ‌the U.S. lifting its naval ⁠blockade of ⁠Iran, potentially bringing an end to the largest oil supply disruption in history.

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