Al-Thawra Net/..
The International Energy Agency, the International Monetary Fund, the World Bank, and the World Trade Organization have warned that if shipping flows do not return to normal, the continued depletion of global oil stocks will pose increasing risks to fuel security and market conditions.
According to Reuters, the aforementioned institutions said in a joint statement issued today, Friday, that their heads met, yesterday, Thursday, to discuss how their institutions would respond to the repercussions of the war in the Middle East.
“If shipping flows do not return to normal, continued rapid depletion of global oil inventories ahead of peak summer demand for oil in the Northern Hemisphere will pose increasing risks to fuel security, market conditions, and overall economic resilience,” the joint statement said.
International institutions were referring to the tense situation around the Strait of Hormuz.
She added that she also discussed options “to strengthen collective support through multilateral and bilateral measures.”
