OfficialShipping, energy & marketsParis, France
IEA says Gulf oil supply won't fully recover until next year as stocks drain
- Mountain Time
- Local time
- 1:45 PM in Paris
- Where
- Paris, France
The International Energy Agency said the global supply deficit would worsen this year, with world oil inventories falling a further 95 million barrels last month, and that it does not expect Gulf producers' supplies to fully recover until next year.
Why it matters
The watchdog's outlook points to a prolonged squeeze even if shipping through Hormuz improves.
Source
- Al Jazeera live blogaljazeera.comPublished
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