Despite fears of supply disruptions following the Israel-Iran conflict, a surge of Persian Gulf crude is entering an already oversupplied global oil market. Iranian production has surprisingly increased, and other Gulf states are exceeding expected export levels. Increased US shale output, spurred by conflict-driven price spikes, further exacerbates the glut, pushing oil prices downward.
Iran-Israel conflict: Ceasefire or not, the world is swimming in oil
