Global oil supply disruptions in 2026

Almost half of the worldÕs oil production comes from countries
affected by armed conflict eclipsing previous energy crisesns
eclipsing previous energy crises

Conflict-
linked oil supply
45m bpd*
(over 43% of
global output)

BALTIC SEA: 3 million bpd of oil
exports under drone fire

BLACK SEA: 2.5 million bpd of
exports threatened by drone attacks,
including Russian and Kazakh crude

RUSSIA: 6.6 million bpd of refining
capacity exposed to drone attacks

MIDDLE EAST:
9.6 million bpd of
refinery capacity at risk

VENEZUELA:
1.16 million bpd
curbed after U.S.
blockade on oil
shipments in Jan 2026

LIBYA: Protests and
drone attacks disrupt
up to 380,000 bpd
of production

STRAIT OF HORMUZ
AND BAB AL-MANDEB:
24 million bpd of flows
in 2025 now under
strain

*barrels
per day

Source: Reuters
Picture: Getty Images
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