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Nations drawing down oil stocks at record pace: IEA

World News

13-05-2026 | 04:34

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Nations drawing down oil stocks at record pace: IEA

Countries are tapping into oil inventories and strategic reserves at a "record pace" due to supply disruption during the Middle East war, the International Energy Agency said Wednesday.

Global stocks were drawn down by a further 117 million barrels in April, the agency said in its monthly report, after a 129 million barrel drawdown in March.

"Rapidly shrinking buffers amid continued disruptions may herald future price spikes ahead," it said.

AFP

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