World Bank: Global oil production faces biggest decline in more than 40 years In a report on October 28, the World Bank predicted that global oil production will face a 5.2% decline in 2026; the largest annual decline in more than four decades, excluding the period of the Corona pandemic. America's war with Iran has reduced oil production and depleted global reserves, weakening the market's ability to deal with new disruptions.

World Bank: Global oil production faces biggest decline in more than 40 years In a report on October 28, the World Bank predicted that global oil production will face a 5.2% decline in 2026; the largest annual decline in more than four decades, excluding the period of the Corona pandemic. America's war with Iran has reduced oil production and depleted global reserves, weakening the market's ability to deal with new disruptions.