Speaking on the sidelines of the G7 finance ministers’ summit in Paris, Birol issued a stark assessment: commercial oil reserves are declining “very fast” because of the conflict in the Middle East. The release of strategic petroleum reserves, decided in March, had provided roughly 2.5 million barrels per day — but Birol stressed that “these are not unlimited.”
The remarks underscore a growing anxiety among the world’s most industrialized nations. With strategic stockpiles being drawn down and no clear diplomatic resolution in sight, energy security is climbing the agenda at the G7 meeting. The combination of Trump’s threatening posture toward Iran and Birol’s data paints a picture of a global energy landscape under severe stress.
