MOSCOW, June 17. /TASS/. World oil supply in May increased by 330,000 barrels per day (bpd), to 105 million bpd, which is 1.8 million bpd more than in May last year, the International Energy Agency (IEA) stated in its June report.

The IEA notes that the growth in world oil production in May was equally divided between non-OPEC+ and OPEC+ countries, as the latter began to exit voluntary restrictions.

The agency forecasts that world oil supply will grow in 2025 by 1.8 million bpd, to 104.9 million bpd. In 2026, growth is expected by 1.1 million bpd. Non-OPEC+ countries will account for the main increase in supply, which is expected to be 1.4 million bpd in 2025 and 840,000 bpd in 2026.

At the same time, IEA experts stress that the current escalation of the conflict between Israel and Iran carries risks for the energy market, because for the first time both countries attacked each other's energy facilities.

The IEA added that the closure of the Strait of Hormuz, which Iran constantly threatens, could have a significant impact on oil and gas markets. According to the agency, about 25% of all global oil supplies pass through the strait - including exports from Saudi Arabia, Kuwait, the UAE, Iraq, Qatar and Iran.