S&P Global Energy Sees Middle East Oil Output Not Returning to Prewar Levels Before End-2027

S&P Global Energy said on September 10 that it does not expect Middle East oil production to return to prewar levels before the end of 2027, and no longer believes the war will be fully over by then or that the Strait of Hormuz will have returned to normal. The company now expects international oil prices to remain elevated at $80 to $100 a barrel throughout next year, according to Jiemian News. A UK Capital Economics economist said the conflict could delay the recovery of Gulf oil production and raise the risk of higher global energy prices in the coming weeks.