International Energy Agency: We Expect a Deficit in Oil Processing Until Next Year
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Today, Baghdad - Baghdad, the International Energy Agency (IEA) announced today (Friday, 11 September) that it expected a "deficit" in the processing of oil into the world market continuously until next year. According to the Agency's translation of "Baghdad Today," world oil markets will suffer "a continuing deficit that is expected to be worse in the coming period as a result of Las...
The gradual depletion of reserves that have until now acted as a "cushion" for the market is also of particular concern. The global oil refining system is at a breaking point, according to a warning from the International Energy Agency (IEA), as the military conflicts in Iran and Ukraine are intensifying pressures on the energy market and limiting both supply and demand. In its monthly report on the oil market, the IEA revised its forecasts down…
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