Global Oil Supplies Disrupted as Conflicts Reach Fever Pitch

The ongoing conflicts in various regions have led to a significant disruption of global oil supplies. Six months after the US and Israeli attacks on Iran, the current Gulf oil disruption stands at around 5 million to 7 million barrels per day (bpd), according to analysts' estimates.

The disruptions have affected almost half of the world's oil supply, with countries impacted by conflict producing about 45 million bpd of oil based on 2025 output. This accounts for more than 43% of global supply, according to Reuters calculations using International Energy Agency data.

The conflicts in Libya and US restrictions on Venezuelan oil exports have added further strain to the already disrupted markets. Saudi Arabia has re-routed oil to the Red Sea, while Gulf exporters are sneaking oil secretly out of the Strait of Hormuz.