IEA warns high oil prices may persist until 2027 on supply restoration lag

The International Energy Agency warns that elevated oil prices could persist until 2027, citing slow restoration of Middle East supplies and the time needed to replenish depleted inventories. The warning implies a prolonged supply-demand imbalance, with uncertainty over the pace of production recovery and stock rebuilding. This matters for global inflation and growth, as sustained high energy costs feed through to consumer prices and economic activity.