Global diesel crunch may last into 2027, IEA warns

A global diesel shortage is set to persist well into 2027 as reduced Middle East refinery runs, lower flows through the Strait of Hormuz and halted Russian exports keep supply tight, the IEA and investment banks warn. Asia's crude imports rebounded to 26.39 million bpd in October, but distillate imports remain 10% below pre-war levels.