Fatih Birol, the director of the IEA, warns that commercial oil reserves are rapidly depleting, but market participants are compensating for the supply-demand imbalance.

Fatih Birol, the director of the International Energy Agency (IEA), stated that commercial oil reserves will be able to supply the global market for a few weeks, but their volume is rapidly decreasing.

The war in the Middle East has created imbalances between supply and demand, but European energy and airline companies claim they are not facing a fuel shortage. The start of the harvesting and tourism season will lead to increased demand for diesel and aviation fuel, which will accelerate the decline in stocks. The IEA reported a record reduction in reserves in March-April, with 246 million barrels taken by market participants. European airlines have adapted their operations, and refineries have increased fuel production, compensating for the lack of raw materials through imports. Aviation fuel prices have risen significantly, but large companies, such as British Airways and Air France, claim they have sufficient stocks for the summer season.