Middle East Oil Output Lags Amid Ongoing Challenges

The Middle East's oil industry is facing significant challenges in restoring its output to pre-conflict levels, according to a report by the U.S. Energy Information Administration.

The EIA's August short-term energy outlook report estimates that around 600,000 barrels of oil per day will remain shut-in in the region through 2027.

This comes despite hopes for a normalization of trade patterns by early next year, which would help stabilize global energy markets.