Global Energy Watchdog Warns Oil Stockpiles 'Rapidly Depleting' The International Energy Agency (IEA) has sounded the alarm about rapidly depleting oil stockpiles, sending shockwaves through the global energy market.
The agency's warning is not just a matter of supply and demand, but also highlights the world's most critical energy chokepoint: the Strait of Hormuz. Observed oil stocks have fallen below 7.
9 billion barrels, the lowest level since April 2025, according to the IEA's latest report. While the market may recover by year's end, the risks are real and growing. Global oil supply is forecast to fall by 4.