he Globe and Mail reports in its Thursday edition that global oil supply will fall by 4.3 million barrels a day, or around 4 per cent, this year, the International Energy Agency said in its monthly oil market report Wednesday. A Reuters dispatch to The Globe says the U.S.-Iran ceasefire broke down last month. Since then, tanker attacks in the Strait of Hormuz have resumed and the conflict spread as Yemen's Iran-aligned Houthi rebels launched attacks in the Red Sea. The expected supply drop compares with the 3.7 million b/d forecast in the IEA's July report, and will take total supply to the IEA's lowest forecast yet for this year at 102.02 million b/d. That would put global oil supply around 1.27 million b/d below demand this year, widening from an 860,000 b/d deficit implied from the IEA's July forecasts. "Global oil supply has fallen well below demand due to the Strait of Hormuz shutdown, the U.S. blockade of Iranian exports, attacks within the Bab el-Mandeb Strait and reduced Kazakh CPC Blend exports," the IEA said, referring also to drone attacks in the Black Sea affecting exports. Middle East oil loadings had recovered to 20 million b/d at the start of July, but dropped back to 12 million b/d later in the month.