Oil supply disruptions, from extraordinary events or otherwise, are not in the best interest of consumers or producers, the International Energy Agency said. The Organization of Petroleum Exporting Countries in its monthly market report, published Tuesday, expressed uncertainty about global oil demand in the second half of the year. That came amid concerns about chronic shortages from a Venezuelan market plagued by sanctions, high debt, and rampant inflation. Within the next few months, more disruptions are possible given the snapback of U.S. sanctions on Iran, triggered by U.S. President Donald Trump ‘s decision in May to leave the U.N.-backed Joint Comprehensive Plan of Action, the nuclear deal that extended economic relief to Tehran. The IEA […]

Posted in: IEA