Potential Oil Glut Looms Amid Middle East Peace Prospects, IEA Warns

The International Energy Agency (IEA) has indicated that a potential peace agreement in the Middle East may result in a notable increase in oil production next year.

According to the IEA, a 'gradual' return of oil flows is expected to transition into a sharp rise in output, which could outpace current demand forecasts.

This development could have significant implications for global oil markets, as increased production might lead to an oversupply situation.