Fuel Supply-Demand Deficit Widens Without Iran, EIA Says
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Excluding Iran from the global oil market increased the shortfall between worldwide supply and demand, the U.S. Energy Information Administration said.
Global petroleum use averaged 2.2 million barrels a day more than output in July and August when Iran is excluded from the calculations, the EIA, the Energy Department’s statistical arm, said in a report today. Iran can help reduce the deficit by 1.5 million barrels a day as the country’s production outpaced demand, the EIA said.