IEA Report Indicates Severe Decline in OECD Oil Inventories

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By Emma Johnson • Updated Oct 15, 2026 at 11:40

Bessent calls for World Bank reforms, including upstream oil and gas financing - Reuters — IEA Report Indicates Severe Decline in OECD Oil Inventories

The IEA report indicates OECD oil inventories have reached their lowest level since 1989. Diesel shortages are anticipated to continue until 2027. Global observers mention the crisis is testing the resilience of global supply chains. Meanwhile, the World Bank has suggested reforms encompassing upstream oil and gas financing. Oil prices have remained stable despite threats to Middle East and Russian supplies.

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