[EIA Says OECD Oil Inventories May Drop to Lowest Level Since 2003] Golden Finance reports that on June 10, the U.S. Energy Information Administration (EIA) stated on Tuesday local time that due to the Iran war causing a loss of over 11 million barrels per day in crude oil production in the Middle East, major consumer countries are tapping into inventories at an unprecedented pace to fill the supply gap. The oil inventories of the Organization for Economic Cooperation and Development (OECD) are heading toward their lowest levels since at least 2003. The EIA noted that based on its current assumptions—that maritime transport activities through the Strait of Hormuz are unlikely to return to pre-conflict levels before early 2027—the total oil inventories of OECD member countries will drop to just below 2.3 billion barrels by December.