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Global Oil Shortage Predicted Amid Ongoing Conflict in Iran

KVIA•Wednesday, April 15, 2026 at 2:51 PM•CNN Newsource

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The International Monetary Fund (IMF) warns of a worldwide oil shortage this year, even if the conflict in Iran were to end immediately. The IMF's chief economist, Pierre-Olivier Gourinchas, stated that global oil supply has already dropped significantly, with the International Energy Agency reporting a historic decline of 10.1 million barrels per day in March. The IMF has revised its global growth forecast to 3.1% for 2026, down from earlier predictions, while inflation is expected to rise to 4.4%. A prolonged conflict could lead to a severe global economic crisis, with potential growth dropping to just 2%, indicating a near-recession scenario. Countries, especially in the Asia-Pacific region, are beginning to experience fuel shortages as a result of the conflict, impacting economies worldwide.

Key Details: • Global oil supply fell by 10.1 million barrels per day in March. • IMF projects global growth at 3.1% for 2026, down by 0.2 percentage points. • Inflation is expected to rise to 4.4% this year. • Countries are facing fuel shortages, particularly in the Asia-Pacific region.

economy oil iran inflation global-crisis

People & Organizations

International Monetary FundIranInternational Energy AgencyPierre-Olivier GourinchasJim ChalmersAsia-PacificG20

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