Source: Reuters (via feed)
The International Energy Agency said on Thursday that the war in the Middle East is creating the biggest oil supply disruption in the history of the global market. This announcement came a day after the agency agreed to release a record volume of oil from strategic stockpiles.
The IEA described the disruption as unprecedented in scale. It is linked directly to the ongoing conflict in the Middle East. The decision to release oil from reserves reflects the scale of the supply disruption.
BizTrendWire Insight:
The IEA’s statement confirms an unprecedented oil supply disruption linked to the Middle East war and the agency’s release of a record oil volume from reserves.
The IEA’s statement confirms an unprecedented oil supply disruption linked to the Middle East war and the agency’s release of a record oil volume from reserves.
