IEA Says Oil Markets Are Facing a Wider Shortfall

Global oil inventories will tumble this quarter at more than twice the rate previously estimated, according to the International Energy Agency. Markets face a shortfall of 1.8 million barrels a day as “renewed hostilities and maritime disruptions” in the Middle East undermine a production recovery, the IEA said in its monthly report. Bloomberg's Anthony di Paola reports. (Source: Bloomberg)