Event Brief

UPDATED May 18, 2026 at 9:02 AM ET

May 7, 2026 at 4:00 PM ET

Oil supply loss nears 1 billion barrels in 75 days

By The BriefBrief

The world lost nearly 1 billion barrels in oil supply over 75 days as global prices rose about 50% since late February.

WHO: Investors

WHAT: Estimated oil supply loss of nearly 1 billion barrels over 75 days

WHEN: May 13, 2026 at 4:59 PM ET

WHERE: Location not specified

WHY: No specific cause was reported.

How this story developed (showing 13 of 13 earlier reports)

Strategists warn Europe faces oil shortages within weeks · May 18, 2026 at 9:02 AM ET
US and Iran stall on Hormuz reopening as oil supplies tighten · May 16, 2026 at 8:06 PM ET
Oil stockpiles may near record lows if Hormuz closed · May 16, 2026 at 10:00 AM ET
IEA: World oil reserves draining at record pace · May 13, 2026 at 4:07 PM ET
Reopening Strait of Hormuz brings uncertain risks · May 13, 2026 at 4:03 PM ET
OPEC sees slower demand growth as Hormuz output falls · May 13, 2026 at 10:00 AM ET
Shipping industry fears fuel shortages as Iran war squeezes supply · May 12, 2026 at 7:03 AM ET
Saudi Aramco CEO: Strait of Hormuz shut costs 100m bpd · May 12, 2026 at 6:03 AM ET
Kloza: Strait of Hormuz is only lever on gas · May 11, 2026 at 7:03 PM ET
Aramco CEO: oil market may not normalize this year · May 11, 2026 at 11:00 AM ET
Oil executives say Iran blockade will reshape global energy markets · May 9, 2026 at 9:00 AM ET
Oil rises as U.S.-Iran fire exchange rattles Hormuz ceasefire · May 8, 2026 at 3:03 AM ET
Shell CEO: Oil market short nearly 1 billion barrels · May 7, 2026 at 4:00 PM ET

Reporting from 10 identified publishers across this event arc.

View all 10 publishers

Publishers represented across this event arc

ABC News — View reporting
Al Jazeera — View reporting
Bloomberg —
2 articles
- View article 1
- View article 2
CNBC Top News —
6 articles
France 24 — View reporting
MarketWatch —
3 articles
New York Times — View reporting
Rio Times — View reporting
Straits Times — View reporting
The Hindu — View reporting

These publishers contributed reporting to the broader event history. Not every source addresses the specific development described above.

How this brief is built: The BriefBrief correlates multiple sources into one evolving event brief, updated as new facts emerge.

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The BriefBrief — updated continuously, every category, every day.

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