🛢 The world’s available oil reserves are nearly depleted
Saudi Aramco chief Amin Nasser warned that the crisis around the Strait of Hormuz has already deprived the market of nearly 3 billion barrels of supply. About 6 billion barrels remain in storage, but most of these reserves, he said, are practically inaccessible to the market.
Even after the Strait of Hormuz fully reopens, replenishing reserves could take up to two years if demand remains at normal levels.
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Saudi Aramco chief Amin Nasser warned that the crisis around the Strait of Hormuz has already deprived the market of nearly 3 billion barrels of supply. About 6 billion barrels remain in storage, but most of these reserves, he said, are practically inaccessible to the market.
Even after the Strait of Hormuz fully reopens, replenishing reserves could take up to two years if demand remains at normal levels.
$AAVE
$SOL
$LTC
