IEA

IMF, World Bank and IEA aim to have calls every two weeks to assess war’s impact

IMF chief Kristalina Georgieva urged countries to avoid stockpiling oil reserves

The Paris-based watchdog forecasts global oil supply to fall by 1.5 million bpd this year, crashing from a 1.1 million bpd projected rise last month.

Iran war upends IEA's global oil market outlook

The IEA cut its forecasts for global oil supply and demand growth

More than 80 oil and gas facilities across the Middle East have been damaged to date, said IMF chief Faith Birol.

IMF, World Bank, IEA urge countries to stop hoarding energy supplies, imposing export controls

It would take time for global supplies of key commodities to move back toward pre-conflict levels

“The volume of oil supply now offline is already higher than the supply loss during the oil shock of 1973, and higher than any of the big disruptions we have witnessed since then,” IEA executive director Fatih Birol said.

IEA members could release more oil stocks ‘as and if needed,’ agency chief says

More than 1.4 billion barrels remain in members’ emergency oil stocks

International Energy Agency (IEA) executive director Fatih Birol speaks during a press conference in Istanbul, Turkey on Mar 12.

Iran war is causing biggest-ever oil market disruption, IEA says

The conflict will slash global oil supply by eight million barrels a day this month

Brent crude surged above US$100 a barrel again on Thursday (Mar 12).

Oil surges above US$100 again as Iraq halts ports, IEA release fails to quell rally

The IEA has recommended the release of 400 million barrels of oil, the largest such move in its history

The Thailand-flagged cargo ship Mayuree Naree engulfed in black smoke in the Strait of Hormuz on Mar 11.

Iran fires back at bases and ships despite war’s most intensive strikes

Israel believes new Supreme Leader Mojtaba Khamenei has been injured early in the war

 Orsknefteorgsintez oil refinery in Russia. The supply of oil has outpaced demand because Opec+, which includes Russia, began boosting its output in April 2025 after years of cuts.

World oil market faces major surplus in first quarter: IEA

It forecasts that the global oil supply will exceed demand by 4.3 million barrels a day, equal to 4% of the world demand