Energy markets unlikely to return to pre-war levels in 2027

“I am afraid I don’t see any credible pathway that the markets will go next year where we were before this war has started,” IEA Executive Director Fatih Birol told the Singapore International Energy Week conference.

“So therefore, we all need to get prepared, taking the energy security as a number one priority in our government, business world, but without forgetting what is the next chapter for the countries and for companies that are all here today,” he said.

The war sharply tightened a market that had been projected to be in surplus this year, significantly disrupted global energy flows and pushed up the prices of oil and refined petroleum products.

MNA