OIL STOCKS FALLING FAST, IEA WARNS The International Energy Agency warned that commercial oil inventories are dropping rapidly and will kee…
OIL STOCKS FALLING FAST, IEA WARNS
The International Energy Agency warned that commercial oil inventories are dropping rapidly and will keep falling in the coming weeks, IEA chief Fatih Birol said at the G7 finance ministers meeting in Paris.
Birol warned rising diesel and fertilizer costs during the travel and planting season could drive up food prices and push inflation even higher.
French Finance Minister Roland Lescure said governments could release strategic oil reserves again if needed.
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