IEA: Global Oil Inventories Could Fall to Critically Low Levels
ARK News.. The head of the Oil Industry and Markets Division at the International Energy Agency (IEA) has warned that global oil inventories could decline to very low levels ahead of the peak demand period.
Speaking on Tuesday, June 2, 2026, Toril Busoni, Head of the Oil Industry and Markets Division at the IEA, said that global oil inventories could reach critical or historically low levels before the peak summer demand season if stock withdrawals continue at the current pace.
Busoni added: “We are seeing continued draws on inventories into the summer, with the possibility—or likelihood—that we could reach critical levels or historically low levels immediately before peak summer demand.”
Her remarks highlight growing concerns over the balance between global oil supply and demand as consumption is expected to rise during the summer months.
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