The energy agency's closely-watched report comes as world oil markets have undertaken a dramatic shift in recent months.
Crude futures have turned a 45% price rally in the first four months of 2019 into a fall of more than 15% since the start of April.
The incident in the Gulf of Oman off the coast of Iran pushed crude futures up as much as 4.5% in the previous session. It was the second time in less than a month that tankers had been attacked in the world's most important zone for oil supplies, with hundreds of millions of dollars' worth of oil passing through the shipping lane every year.On the demand side, the IEA followed OPEC by downwardly revising its global oil demand growth forecast for 2019 on Friday.
"This is welcome news for consumers and the wider health of the currently vulnerable global economy, as it will limit significant upward pressure on oil prices." Expectations that trade officials from world's largest economies will clinch a deal on the side-lines of a G20 meeting in Osaka on June 28-29 have been fading in recent days.
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