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    "@id": "https://niharikatimes.com/en/article/global-oil-supply-set-to-fall-4-amid-middle-east-tensions",
    "url": "https://niharikatimes.com/en/article/global-oil-supply-set-to-fall-4-amid-middle-east-tensions",
    "article_id": 5715,
    "headline": "Global Oil Supply Set to Fall 4% Amid Middle East Tensions",
    "summary": "The International Energy Agency forecasts a 4% decline in global oil supply this year despite increased production from non-OPEC countries like the US, Canada, and Guyana. Rising tensions and military actions in the Middle East, particularly in the Gulf of Oman, have raised concerns about disruptions to oil shipments, driving Brent crude prices above $100 a barrel.",
    "articleBody": "The International Energy Agency has forecast a 4% drop in global oil supply this year despite increased output from non-OPEC producers including the United States, Canada, and Guyana. Rising tensions in West Asia have driven Brent crude prices above $100 a barrel, rattling stock markets in early trade, industry experts said.\n\nThe IEA expects global oil supply to decline by 4.3 million barrels per day this year. This comes even as countries outside the Organization of the Petroleum Exporting Countries have boosted their production. Market participants are factoring in a prolonged conflict in the Middle East and the risk that recent military strikes could disrupt oil flows from the region.\n\nOne key concern is whether attacks on oil tankers will reduce ship-to-ship transfers in the Gulf of Oman. These transfers have so far played a crucial role in supplying oil to global markets and keeping prices in check. Analysts warn that the volume of disruptions is likely to increase, further tightening supply.\n\nThe escalation in West Asia has unsettled stock markets, with Brent crude prices crossing the $100 mark. This surge reflects fears over the stability of oil shipments and the potential for sustained conflict to impact global energy supplies.\nयह भी पढ़ें\nOil Marketing Companies Losing on Petrol and Diesel as Brent Crosses $100\nMarkets decline amid West Asia conflict and US rate hike concerns\nCanada’s Carney Confirms Shift Away from United States\nBrent Crude Surpasses $108 a Barrel Amid Middle East Tensions",
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    "published_at": "2026-09-09T10:30:23+00:00",
    "updated_at": "2026-09-09T10:30:23+00:00",
    "language": "en",
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        "Global oil supply set to fall by 4% in 2024",
        "IEA forecasts 4.3 million barrels per day decline",
        "Non-OPEC countries increase oil production",
        "Brent crude prices rise above $100 a barrel",
        "Middle East tensions impact oil market stability"
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            "question": "Which countries are increasing oil production outside OPEC?",
            "answer": "The United States, Canada, and Guyana have boosted their oil output recently."
        },
        {
            "question": "Why are oil tanker attacks a concern for oil supply?",
            "answer": "Attacks may reduce ship-to-ship transfers in the Gulf of Oman, disrupting flow."
        },
        {
            "question": "How have stock markets reacted to rising Brent crude prices?",
            "answer": "Stock markets were rattled during early trade due to the price surge."
        },
        {
            "question": "What role do ship-to-ship transfers play in oil supply?",
            "answer": "They are crucial in supplying oil globally and help keep prices stable."
        }
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            "value": "$100",
            "context": "Brent crude price per barrel crossed due to tensions"
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