Middle East Oil Struggles Persist Amid Production Restraints

The Middle East's oil sector is facing ongoing challenges as some producers struggle to restore their output to pre-conflict levels by the end of 2027.

A recent report from the U.S. Energy Information Administration (EIA) highlights this issue, stating that around 600,000 barrels of oil per day will remain shut-in in the region through 2027.

The EIA's August short-term energy outlook report also notes that production shut-ins averaged 5.5 million barrels per day in July.