[IEA: As Global Oil Inventories Decline at Record Speed, Oil Prices May Surge Further] Odaily Planet Daily News - The International Energy Agency (IEA) warned on Wednesday that global oil inventories are declining at a record pace, and the ongoing chaos caused by the Iran war could lead to further surges in oil prices. In April, crude oil and refined product inventories fell by nearly 4 million barrels per day—equivalent to the combined consumption of the UK and Germany—which could weaken countries' ability to buffer against supply shocks. The report stated: 'With importing countries facing unprecedented disruptions in Middle Eastern oil supplies, global oil inventories are declining at record speed.' 'Under continuous disruptions, the buffer space is rapidly shrinking, which may signal a future surge in prices.' (Jin10)