IEA Director: Oil Market May Enter "Danger Zone" Between July and August

Odaily reports that International Energy Agency (IEA) Executive Director Fatih Birol stated on Thursday that the arrival of the summer fuel demand peak, coupled with a lack of new oil exports from the Middle East and continuously declining inventories, could push the oil market into a "danger zone" between July and August. He did not provide further details. During a speech, Birol noted that the world was in a state of oil surplus when the supply crisis triggered by the Iran war erupted, which helped cushion the shock, but inventories are now steadily declining. (Jin10)