Global Oil Supply Heavily Impacted by Conflicts, Nearly Half Originating from War Zones

Almost half of the world's oil supply in 2026 is originating from countries affected by conflict, according to Reuters calculations. The ongoing war in Iran, along with the Russia-Ukraine conflict and disruptions in Libya, has significantly impacted global oil flows and cut refining capacity by approximately a tenth. This situation is contributing to higher fuel prices and inflationary pressures worldwide.