Agencies warn vulnerable economies may need up to $50bn amid supply shock

Last updated: May 30, 2026 | 11:02

Receiving fuel from tanker

Several international organisations, including the International Monetary Fund (IMF), the International Energy Agency (IEA) and the World Bank, have warned of the risk of fuel shortages this summer if maritime traffic through the Strait of Hormuz does not return to normal swiftly.

In a joint statement, the heads of the three institutions said global oil inventories were being depleted at a record pace due to the significant loss of supplies passing through the Strait of Hormuz.…