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Global energy watchdog warns oil stockpiles ‘rapidly depleting’ – as it happened

The International Energy Agency calls for urgent reopening of the strait of Homuz amid ongoing pressure on global oil supplies Opec has lowered its full-year forecast for world oil demand growth for the fourth month in a row. The oil producing cartel said it w

The Guardian|Wed, 12 August 2026 at 13:54

The International Energy Agency calls for urgent reopening of the strait of Homuz amid ongoing pressure on global oil supplies

Opec has lowered its full-year forecast for world oil demand growth for the fourth month in a row.

The oil producing cartel said it was now expecting oil demand to have grown to 580,000 barrels per day , according to a copy of the monthly report seen by Reuters.

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This summary was compiled from a public newswire feed. The original reporting is by The Guardian and remains their copyright — read it at the source.