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A deepening crisis in oil markets and beyond
…the steepest losses are concentrated in the petrochemical sector, where feedstock availability is becoming increasingly constrained. Aviation activity is also running well below normal levels. The report sees higher prices, a deteriorating economic environment and demand-saving measures further weighing on global oil consumption in the months ahead.
Read the report https://www.iea.org/reports/oil-market-report-may-2026 and learn more about the energy crisis and the IEA's response, visit our dedicated topic page https://www.iea.org/topics/the-middle-east-and-global-energy-markets. We also launched a new interactive data tool https://www...
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How the Middle East war has upended oil markets
…earlier forecast, before the outbreak of hostilities, that global demand would grow by 850,000.
The report emphasises that, while the situation continues to evolve quickly, the resumption of regular flows through the Strait of Hormuz remains the single most important variable in easing the pressure on energy supplies, prices and the global economy. Even once the Strait reopens, it will take time for flows to normalise.
For more in-depth analysis of the situation in oil markets, read the full report https://www.iea.org/reports/oil-market-report-april-2026, which is freely available on our website. We…
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The Strait of Hormuz and global LNG supply
How the Middle East conflict is impacting natural gas markets worldwide
An International Energy Agency Newsletter
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Welcome back to Energy Snapshot, the International Energy Agency’s monthly newsletter focused on charts and data. In today’s edition, we look at how the Middle East conflict is affecting global LNG markets.
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The impacts of the Middle East conflict on oil markets https://www.iea.org/reports/oil-market-report-march-2026 have been in focus over the past week…
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Oman
Oman’s energy supply is entirely generated by nationally-produced natural gas and oil products and the country is a large exporter of oil and gas. The government has recently launched the “Residential PV Initiative" to foster the private use of solar PV.
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Oil
Oil
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The mounting disruptions in oil markets
…the war in the Middle East, shipping through the Strait of Hormuz – one of the world’s most critical energy chokepoints – has plunged, creating the largest disruption to oil supply in history. How is this shock rippling through oil markets? What are the real-world consequences for oil-consuming countries and industries? And how has it changed the IEA’s forecasts for supply and demand in the months ahead?
In this episode, senior oil market analysts Rebecca Schultz and David Martin discuss these questions and more, drawing on fresh data and analysis from the IEA’s April Oil Market Report. -
New podcast episode examines mounting disruptions in oil markets
…senior oil market analysts Rebecca Schulz and David Martin. They discuss the latest data, drawing from the IEA’s April Oil Market Report, and explore the real-world consequences for oil-consuming countries and industries – as well as how the situation has reshaped the IEA’s forecasts for supply and demand in the months ahead.The Everything Energy podcast offers perspectives on a wide range of leading global energy issues. In other recent episodes, IEA experts have discussed the Agency’s largest-ever emergency oil stock release, walked through 10 measures that could help shelter consumers from the effects of higher oil…
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Update on IEA collective action decision of 11 March 2026
…2011, and twice in 2022.The war in the Middle East is creating the largest supply disruption in the history of the global oil market. This emergency collective action, by far the largest ever, provides a significant and welcome buffer. But the most important factor in ensuring a return to stable flows is the resumption of regular transit of shipping through the Strait of Hormuz. Adequate insurance mechanisms and physical protection for shipping are key to the resumption of flows.For a more detailed assessment of the situation, the IEA’s latest monthly Oil Market Report, published on 12 March…
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Joint Statement on 13 April by the Heads of the International Energy Agency, International Monetary Fund, and World Bank Group
…release this Tuesday, April 14, of the IEA’s monthly Oil Market Report and IMF’s World Economic Outlook. We also discussed the situations of the countries most affected by the shock as well as the responses by our institutions. Our teams are working closely, including at country level, to leverage our respective expertise and help countries through tailored policy advice and, in the case of the IMF and World Bank, financial support where needed.We will continue to monitor closely and assess the impact of the war on energy markets, the global economy and individual countries, and to coordinate…
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History of the IEA Mission
From oil security to steering the world toward secure and sustainable energy transitions At the heart of the global dialogue on energy security and clean energy transitions, the International Energy Agency is the world’s leading energy authority. We provide reliable and comprehensive data, analysis, and policy recommendations with the goal of shaping a secure, sustainable and affordable energy future for all while meeting the climate change objectives of the 2015 Paris Agreement.The IEA...
