The EIA projects global crude oil production will recover to pre-conflict levels by end of 2026 as the US-Iran deal reopens the Strait of Hormuz.

The EIA projects global crude oil production will recover to pre-conflict levels by end of 2026 as the US-Iran deal reopens the Strait of Hormuz.

In its new Short-Term Energy Outlook (STEO), the EIA said last month's US-Iran MOU prompted massive revisions to its prior forecast.