Insights > Briefings > BRIEFING: World on cusp of recession amid oil crisis, but market set for glut if Middle East conflict subsides

BRIEFING: World on cusp of recession amid oil crisis, but market set for glut if Middle East conflict subsides

Published 11:43 on May 1, 2026 / Last updated at 15:31 on May 1, 2026 / and / EMEA (Europe, Middle East), Insights (Briefings), Net Zero Transition (Industrial Decarbonisation, Power/Electrification, Transport & Heating Fuels)

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Spiralling oil and gas prices due to conflict in the Middle East have left the world on the brink of recession, which would add heavy pressure to EU carbon prices amid industrial demand destruction, but the short-term shortage in barrels will likely give way to a wave of supply further down the line if there is a truce in hostilities, analysts have said.
Spiralling oil and gas prices due to conflict in the Middle East have left the world on the brink of recession, which would add heavy pressure to EU carbon prices amid industrial demand destruction, but the short-term shortage in barrels will likely give way to a wave of supply further down the line if there is a truce in hostilities, analysts have said.


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