Global diesel shortages could persist well into 2027. International Energy Agency

Global diesel markets could remain tight well ​into next year, with resulting high prices driving inflation and hurting economic growth, as conflicts curb output from the Middle East and Russia, the International Energy Agency ‌said on Wednesday.

The agency's warning comes on the eve of a meeting that will discuss the scale and timing of releases from the agency's emergency stocks aimed at calming energy markets.

Diesel is used widely in industry, agriculture, and motoring, meaning its record-high prices have created both political and economic pressure. US President Donald Trump's administration has told European Union countries to draw down inventories or face a potential US diesel export ban.

"Record diesel prices are already having ​broad economic consequences by raising the cost of goods and impacting real incomes, economic activity, and inflation," the agency, which advises industrialised countries and manages their emergency oil stocks, ​said in a monthly report.

Combined losses of diesel exports from the Middle East and Russia totalled 1.3 million barrels per day in September, the agency ⁠said. That represents about 4.5% of the global diesel and gas oil demand the agency forecasts for this year.