BUSINESSAug 12 · 10:25 UTCBLOOMBERG

IEA Says Oil Markets Are Facing a Wider Shortfall

The International Energy Agency (IEA) reported that global oil inventories are expected to tumble this quarter at a rate more than double previous estimates. Markets face a shortfall of 1.8 million barrels a day because renewed hostilities and maritime disruptions in the Middle East are undermining production recovery.

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International Energy AgencyorganizationMiddle EastplaceBloombergorganizationAnthony di Paolapersonoil marketstopic

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