IEA Chief Warns Commercial Oil Inventories Are Falling Very Fast
Fatih Birol at the G-7 finance ministers and central bank governors meeting in Paris, on May 18.
Photographer: Benjamin Girette/BloombergInternational Energy Agency Executive Director Fatih Birol warned that the tally of commercial oil inventories is shrinking at an accelerated pace.
“I think it is depleting very fast,” he told reporters at the sidelines of a meeting of Group of Seven finance ministers in Paris, echoing comments from last week. It will be “several weeks, but we should be aware of the fact that it is declining rapidly,” he said.