The brief spike in Middle East tensions as the US and Iran faced off has served as a reminder of the havoc disruptions in supply from the key oil producing region could wreak on the global economy, the IEA said Thursday.
But it said ample stocks and production elsewhere mean the world is relatively well placed to react to a crisis.
Washington and Tehran are currently in a standoff after tit-for-tat military actions over the past two weeks that had sparked fears of a large-scale confrontation that could choke off the Strait of Hormuz through which 20 percent of global oil supplies flow.
