Business
Global energy watchdog warns oil stockpiles ‘rapidly depleting’ – as it happened
Kalyeena Makortoff
August 12, 2026
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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