Business · 18 May 2026
Oil stocks running low, only weeks left
The head of the International Energy Agency(IEA) has warned that global oil stockpiles are depleting in an unusually fast rate as tensions in the Middle East continue to disrupt markets. The agency's report indicated a 129-million-barrel decrease in global stock levels over March, followed by another reduction of 117 million barrels throughout April. If the trend continues, tighter supplies could lead to higher fuel prices and increased costs for consumers and businesses.
Reported by Guardian · How we write briefs