IEA says global oil supply fell 1.8 million barrels a day in April on Iran war disruption
The International Energy Agency said global oil supply fell by 1.8 million barrels a day in April, the steepest one-month drop in years. Output losses at Iranian fields and disruptions through the Strait of Hormuz drove the slide.
The International Energy Agency said global oil supply fell by 1.8 million barrels a day in April, the steepest one-month drop in years, as the war between Israel, Iran and the United States disrupted production and shipping across the Middle East. The Paris-based agency warned that the world's energy buffer has narrowed considerably.
The report highlighted output losses from Iranian fields, reduced flows through the Strait of Hormuz and precautionary halts at Gulf terminals as the main drivers. Brent crude has settled around multi-year highs since the conflict erupted, while spare capacity at OPEC+ producers has fallen toward a decade low, leaving little cushion if outages worsen.
Analysts said the supply hole could deepen if hostilities resume, with potential ripple effects on inflation, transport costs and consumer prices. Importer nations including India, Japan and the European Union have stepped up coordinated stockpile releases, but officials concede those measures can only cushion, not offset, a prolonged disruption.
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