The International Organisation of Vine and Wine (OIV) is panicking, it seems that the world’s wine supply is about to hit an all-time low. Specifically global wine production is expected to be down 8.2 percent this year, which is the lowest it has been in more than 50 years.

“This drop is consecutive to climate hazards, which affected the main producing countries, particularly in Europe,” says the OIV. What they mean is that climate change (and the likes of extreme weather conditions including bushfires) has hit Italy, France, and Spain hard, directly decreasing the ability to produce wine.

Italy is down 23 percent, France 19 percent and Spain 15 percent. America seems to have escaped relatively unscathed, down only 1 percent. As too is Australia, which is up six percent overall, seeing increase for the third year in a row. South America is also in the green, with Argentina experiencing a 25 percent increase in total.

What does this mean for wine lovers around the globe? Best start buying bulk. Better safe than sorry, after all.