World
ARAMCO SAYS THE WORLD HAS LOST 3 BILLION BARRELS AND THE STOCKS WILL NOT BE BACK FOR TWO YEARS
At the Energy Intelligence Forum in London on 5 October, Amin Nasser said the world has lost nearly 3 billion barrels of gross oil supply since the Iran war, with more than 1 billion barrels drawn from stocks. He said commercial inventories are “scarily thin” and that refilling them while meeting demand could take up to two years even after Hormuz reopens. Kuwait Petroleum CEO Sheikh Nawaf Al-Sabah said crude is ample but refined products are short by about 6 million barrels a day. Reuters reported Brent above $100 a barrel.
BigV•29m ago•1 min read