While a surplus of oil in the market before the war has helped absorb the energy shock it caused, "stocks are eroding", said Fatih Birol.

While a surplus of oil in the market before the war has helped absorb the energy shock it caused, "stocks are eroding", said Fatih Birol.

He warned that it will take “a lot of time” for production and refining capacity to return to pre-war levels. Read more at straitstimes.com. Read more at straitstimes.com.

International Energy Agency Chief Fatih Birol has warned global oil markets could enter the “red zone” by July and August as the Iran crisis continues to disrupt energy...