Global energy watchdog warns oil stockpiles ‘rapidly depleting’ – as it happened

The International Energy Agency calls for urgent reopening of the strait of Homuz amid ongoing pressure on global oil supplies Opec has lowered its full-year forecast for world oil demand growth for the fourth month in a row. The oil producing cartel said it was now expecting oil demand to have grown to 580,000 barrels per day , according to a copy of the monthly report seen by Reuters. Continue…