The International Energy Agency (IEA) has said in its October Oil Market Report that it expects global diesel supply constraints to persist into 2027, Bernama reports citing Xinhua.
It said global diesel exports fell by 700,000 barrels per day (b/d) year-on-year (YoY) in September, as prolonged supply disruptions caused by escalating attacks on energy infrastructure in West Asia led to counter-seasonal stock draws ahead of autumn refinery maintenance and peak winter demand.
Global diesel prices may have eased from record highs of over US$200 (RM816) per barrel in September, but benchmark prices are still nearly twice as high as crude oil prices and almost double their pre-crisis levels.
The IEA warned that record diesel prices were already having widespread economic consequences, increasing the cost of goods and affecting real incomes, economic activity and inflation.
