International Energy Agency warns of oil stockpiles approaching ‘Red Zone’ | ABC NEWS
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The head of the International Energy Agency says he is concerned the ongoing fuel crisis caused by the Iran war could push oil prices into the 'red zone', where global stockpiles fall below 90 days’ worth. Associate Professor San-Joy Paul from the University of Technology Sydney says there is a buffer of oil stockpiles around the world but the approaching northern hemisphere summer will place more pressure on supplies. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2026-05-01/how-china-secures-oil-supplies-amid-hormuz-disruption/106625732 Note: In most cases, our captions are auto-generated. #ABCNEWS #ABCNEWSAustralia
Tags: Australia, abc, abc news, news, oil stockpile crisis, International Energy Agency, oil red zone, fuel shortages, Iran war, global energy crisis, oil reserves, warning, petrol price surge, energy security, San Joy Paul, UTS, crude oil, strait of hormuz, fuel crisis, oil crisis
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