43% of world’s oil supply comes from war-affected nations: Report

Nearly half of the world’s oil supply comes from countries currently affected by wars, a Reuters report said. While US-Israeli-Iran war triggered an oil crisis, Russia-Ukraine war reduced crude refining. US restrictions on Venezuelan oil exports earlier this year have added strain. Conflict-affected countries produced 45 million barrels of oil per day in 2025 which was 43% of global supply.