IEA Sees Wider Oil Supply Deficit Despite Hit to Demand From War
AI Summary
The International Energy Agency reports that global oil inventories will fall more than twice as fast this quarter amid renewed conflict in Iran, despite demand dampening due to high prices. The Iran war contributes to a wider oil supply deficit globally.
Global oil inventories will tumble this quarter at more than twice the rate previously estimated as the Iran war flares again, even as the hit to demand from high prices deepens, the International Energy Agency said.
World Security Politics Commodities Energy IEA report oil supply deficit Iran war global oil inventories energy markets high prices