IEA Warns European Gasoline Prices Could Rise; Supply Crisis May Persist to 2027

The International Energy Agency (IEA) warns that European gasoline prices may rise again in coming weeks, with the supply crisis potentially lasting until H2 2027. Despite partial recovery of Persian Gulf oil exports, global production lags demand, compounded by ship attacks, Strait of Hormuz blockade, and strikes on Russian refineries. IEA expects high prices and economic slowdown to curb consumption, while OPEC forecasts stronger 2027 demand recovery, highlighting divergent outlooks.