World’s Oil Supply Pressured by Hurricane Ida, Other Outages

The impact of Hurricane Ida and other oil supply outages will take a sizable chunk out of global oil production this year, the International Energy Agency said Tuesday.

In its monthly market report, the energy watchdog cut its supply rebound forecast for 2021 by 150,000 barrels a day and cut its demand forecast by 100,000 barrels a day, citing the impact of the Delta variant of Covid-19.

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