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IEA Chief Warns Oil Market Could Enter "Dangerous Zone" in July–August, Ready to Coordinate SPR Release

GateNews

2026-05-22 06:34:25

According to IEA Director Fatih Birol, the oil market could enter a "dangerous zone" in July and August. The International Energy Agency is prepared to take action and coordinate the release of strategic petroleum reserves if necessary.

Birol's warning comes as crude prices rise amid supply constraints, with several major forecasters, including UBS and Barclays, maintaining or raising their price forecasts for 2026.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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