🔶 Reuters: Iran’s war has created the biggest daily oil supply shock in history Reuters, citing the International Energy Agency (IEA), reported that the war in Iran has caused the largest daily shock to oil supply in history in terms of production reduction. According to the report, the peak decline in oil supply has reached more than 14 million barrels per day, equivalent to 13.6% of global demand; a figure that exceeds the oil crisis of 1973, the Iranian Revolution of 1979, and the Gulf War in 1991. Reuters writes that the war has not only affected the oil market, but has also disrupted supplies of liquefied gas, oil products, and chemical fertilizers. According to the International Energy Agency, about one-fifth of Qatar’s liquefied natural gas production and nearly 5.6% of global trade in this product have also been damaged by the consequences of this conflict.