Paris, France: Countries are tapping into oil inventories and strategic reserves at a "record pace" due to supply disruption during the Middle East war, the International Energy Agency said Wednesday.
Global stocks were drawn down by a further 117 million barrels in April, the agency said in its monthly report, after a 129 million barrel drawdown in March.
"Rapidly shrinking buffers amid continued disruptions may herald future price spikes ahead," it said.
