International Energy Agency Warns of Historic Drop in Global Oil Reserves, Risk of Fuel Shortages, Price Hikes

International Energy Agency Warns of Historic Drop in Global Oil Reserves, Risk of Fuel Shortages, Price Hikes
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The International Energy Agency (IEA) has issued a warning over a rapid and unprecedented decline in global oil reserves, cautioning that the trend could lead to rising fuel prices and potential shortages in the coming months.

According to Deutsche Welle Persian, global oil stocks fell by more than 117 million barrels in April 2026, following a sharp reduction in March. The IEA highlighted that with the summer travel season approaching, concerns are growing over disruptions in supply, particularly of jet fuel, which could affect international markets and airline operations.

The agency called for close monitoring of supply-demand balances and urged governments and energy stakeholders to prepare for potential market volatility and fuel scarcity during peak travel months.