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Global Commercial Oil Inventories Decline Sharply to Just Weeks of Supply, IEA Says on May 18

GateNews

2026-05-18 22:43:36

According to IEA Chief Fatih Birol, global commercial crude oil inventories are declining sharply due to Middle East tensions, with reserves lasting only weeks. During the G7 finance ministers meeting in Paris on May 18, Birol noted that the IEA’s March decision to coordinate strategic petroleum reserve releases adds about 2.5 million barrels daily to markets, though these reserves are not unlimited. The IEA’s latest monthly report released on May 13 showed that global observable oil inventories fell 250 million barrels in March and April, equivalent to 4 million barrels per day.

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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