New Delhi, March 9 -- Iran's absence from the global oil market is likely to be offset by an existing oversupply in global oil inventories, providing a buffer against potential supply disruptions, according to a report by CareEdge.

The report noted that the global oil market was already oversupplied with oil inventories amounting to 8.3 billion barrels in 2025, and this trend is expected to continue through 2026 and 2027. The surplus supply is expected to help balance the market even if geopolitical tensions disrupt some production or exports.

It stated, "Iran's absence in the oil market, which produces 3.5 million b/d of crude oil, accounting for a sizeable 4 per cent of global oil supply in 2025, should be offset by oversupply."

The ...