The US agency made huge revisions to its global oil supply, demand and inventory projections as a result of the Mideast war and closure of the Strait of Hormuz.
Published:
Tue, May 12, 2026
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The war in the Middle East and near-closure of the Strait of Hormuz have prompted forecasters at the US Energy Information Administration (EIA) to make dramatic adjustments to their outlook for global oil supply, demand and inventories.
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