The International Energy Agency has warned about the state of the oil market in the Middle East in its latest report. This report specifically mentions the impacts of war and disruption in export routes, predicting that the return to normal Gulf oil flow will be postponed until 2027.
Impact of War on Oil Exports
Currently, ongoing wars in the Middle East, particularly in key areas such as Yemen and Syria, have had negative impacts on oil exports. These areas, considered main corridors for oil exports, are facing serious challenges. Additionally, the insecurity in these regions has led to a decrease in oil production and exports, thereby putting more pressure on global oil prices.
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Outlook for Gulf Oil Market
According to this report, the return to normalcy in the Gulf oil market is expected to be influenced by political and economic conditions. The International Energy Agency has predicted that oil production in key fields such as the Khark oil field and the Gasprmes oil field in Iran will gradually return to their previous capacities. However, this process has been postponed until 2027, which could significantly affect oil prices in the global market.
The agency also pointed to an increase in demand for oil in developing countries, predicting that these countries will soon become the largest oil consumers. This change in consumption patterns could impact the oil market and increase the need for higher production.
Overall, the International Energy Agency has described this situation as a serious challenge for the oil and gas industry and emphasized the need to focus on developing new infrastructure and improving security in key export areas. In this regard, investment in new technologies and increasing international cooperation could help improve the current situation.
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