IEA says ‘ready to act’ if Middle East conflict escalates to hit oil supplies

The International Energy Agency said Oct. 12 it is ‘ready to act’ if the current Middle East conflict escalates to hit oil supplies in the region but trimmed its oil demand outlook on signs of demand destruction in the US and other countries. Noting that there has been no direct impact on physical oil supplies from the conflict between Israel…The International Energy Agency said Oct. 12 it is ‘ready to act’ if the current Middle East conflict escalates to hit oil supplies in the region but trimmed its oil demand outlook on signs of demand destruction in the US and other countries. Noting that there has been no direct impact on physical oil supplies from the conflict between Israel…  Read More