Oil supplies to decline in March to their lowest since 2022 due to Middle East conflict Global oil supplies in March 2026 could fall by 8 mln barrels per day (bpd), to 98.8 million bpd, amid the Middle East conflict, the International Energy Agency (IEA) reported noting that this is the lowest volume since early 2022. The decline in the Middle East will be partially offset by higher production in non-OPEC+ countries, Kazakhstan, and Russia, the IEA added. The agency notes that the extent of the decline will depend on the duration of the conflict and the supply disruptions. However,…
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