Global Oil Reserves Approach Eight-Year Low
TotalEnergies President Patrick Pouyanné warned that oil reserves could be exhausted within two to three months if current economic activity levels are maintained. The situation remains highly tense due to the sustained reduction in supply. Brazilian President Lula has criticized recent trade developments. Reports suggest Brazil may be included in a new wave of tariffs. While previously removed products might not return to the list, new products could be added to the tariff schedule. Iran possesses approximately 90 million barrels of available storage capacity out of a total 122 million barrels. Western estimates suggest oil is beginning to accumulate in storage tanks due to ongoing blockades. The surplus is likely to be directed toward Asian markets, specifically China. This supply gap has persisted for nearly 60 days, according to energy development fund director Sergey Pikin.
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Sources · 7 independent
“if we want to truly make the economy work approximately as we knew it before the crisis, the oil barrel reserves will truly run dry.”
“the volume of reserves, for example, excluding China, is just over 1 billion barrels, so, in fact, if another couple of months pass, the volumes of reserves will approach zero.”
“if we take the underloading of the Anus strait and what should have come out of it, it's about 10-11 million barrels per day, we've had this story for almost two months.”
“O Brasil estaria na lista de um novo tarifaço e os produtos que já tinham sido eliminados não voltariam para a lista, mas novos produtos poderiam ser incluídos.”
“Spirit Airlines is flirting with liquidation. They've run out of of money.”
“Western estimates say Iran may have about 90 million barrels of available storage capacity out of a total of approximately 122 million barrels.”
“if we take, on average, the underloading of the Hormuz Strait... it is about 10-11 million barrels per day, we have already had this story for almost two months.”
“Goldman Sachs says that global oil inventories are approaching their lowest levels in eight years, warning of the speed of depletion of these inventories.”
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