Oil Prices Expected to Rise Further as Middle East Supply Losses Deepen Diesel Shortage
Source Summary
Kpler analyst Matt Smith expects oil prices to continue rising as Middle East supply disruptions persist, with approximately 8.5 million barrels per day of production lost over the course of the conflict. Oil prices have risen roughly $30 per barrel since early August, and gasoline prices remain elevated despite seasonal declines typically seen at this time of year. Refinery runs have been cut sharply, contributing to the diesel shortage.
Why it matters
Sustained oil supply losses and refinery cuts are driving up energy costs globally, affecting fuel prices and inflation across multiple economies.
