IEA warns European diesel prices near $200/bbl through 2027 despite Gulf output revival

The IEA projects sustained wholesale fuel-oil price increases in Europe, with diesel approaching $200 per barrel, persisting until 2027 even as Persian Gulf production recovers. The warning signals structural supply tightness in refined products, likely driven by refinery capacity constraints and sanctions-related shifts. This matters for European inflation, industrial costs, and energy security policy.