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Global energy watchdog warns oil stockpiles ‘rapidly depleting’ – as it happened

The Guardian 1 min read 4 days ago

<p>The International Energy Agency calls for urgent reopening of the strait of Homuz amid ongoing pressure on global oil supplies</p><p><strong>Opec</strong> has lowered its full-year<strong> forecast for world oil demand growth</strong> for the fourth month in a row.</p><p>The oil producing cartel said it was now expecting oil demand to have grown <strong>to 580,000 barrels per day</strong>, according to a copy of the monthly report seen by Reuters.</p> <a href="https://www.theguardian.com/business/live/2026/aug/12/oil-prices-brent-crude-iran-trump-fuel-inflation-tui-travel-business-live">Continue reading...</a>
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