OREANDA-NEWS  Analysts at the International Energy Agency (IEA) have predicted a large-scale oil glut in the global energy market next year. This is reported by Reuters.

Experts expect that in 2027 the volume of supply of raw materials on the world market will increase by 8 million barrels per day. Demand during this period, in turn, will grow by only 2 million. Thus, there will be a significant oversupply of raw materials on the global market, the industry agency warned.

According to the international organization, the opening of the Strait of Hormuz will greatly contribute to a sharp increase in global supply. According to experts, unblocking the most important logistics artery in the Middle East will lead to an increase in the production and export of raw materials from the Persian Gulf countries. As a result, the imbalance of supply and demand will begin to decrease due to the influx of additional shipments of Middle Eastern oil.

Analysts at Morgan Stanley and Goldman Sachs predicted earlier that tanker traffic in the Strait of Hormuz would recover by the end of July. Experts believe it will take more time to restore the extraction of raw materials in the Middle East. Financiers expect a full-fledged return to pre-crisis levels at the beginning of next year.