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Global Oil Inventories Decline at Record Pace in April, IEA Warns of Further Price Spikes Amid Iran Tensions

GateNews

2026-05-13 08:06:10

According to the International Energy Agency (IEA) on Wednesday, global oil inventories declined at a record pace in April amid ongoing Middle East supply disruptions related to Iran. Crude and refined oil stocks fell by nearly 4 million barrels daily in April—equivalent to the combined consumption of the UK and Germany—potentially weakening nations’ ability to buffer against supply shocks. The IEA stated that shrinking inventory buffers amid persistent disruptions could signal sharper price increases ahead.

Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.

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