Global Diesel Squeeze to Drag Into 2027, IEA Says
By Giulia Petroni
Global diesel supplies are expected to remain tight well into next year as Middle East fuel exports struggle to recover despite a recent rebound in crude shipments, the International Energy Agency said.
Supply fell by 1.7 million barrels a day in the third quarter, as the Iran war curtailed flows through the Strait of Hormuz--a critical waterway carrying large volumes of Gulf oil and refined products--while Russia, one of the world's largest exporters of refined fuels, had to cut output due to Ukrainian attacks on its refineries.
Diesel is a key part of the global economy, fueling trucks that move food and manufactured goods, heavy equipment at construction sites and ships at sea. It is also widely used for heating.
The IEA--a group of Western nations and their allies--said global gasoil exports averaged 4.7 million barrels a day in the first nine months of 2026, down 10% from a year earlier. In September, combined net exports from the Middle East and Russia fell more than 60%, with increased shipments from the U.S. and China offering only partial relief.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
October 14, 2026 04:14 ET (08:14 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
The Smartest Moves for Bond Investors Today, and What to Do When You Have Too Many Investments
5 Stocks to Sell for Tax-Loss Harvesting
33 Undervalued Stocks to Buy Before the Market Shifts Again
Undervalued by 15%, This Utilities Stock Could Be an Unexpected AI Winner
United States