IEA Says New US Sanctions Could Significantly Disrupt Russian Supply

OIL PRICE - LONDON. The latest round of U.S. sanctions against Russian oil could significantly disrupt the country's oil supply chains, the International Energy Agency said in a monthly report on Wednesday, potentially tightening the global market.

Even so, the outlook from the IEA, which advises industrialised countries, still suggests the market will be in surplus this year as supply growth led by countries outside the OPEC+ producer group exceeds subdued expansion in world demand.