๐จ BREAKING: THE WORLDโS EMERGENCY OIL RESERVES ARE RUNNING LOW! ๐ข๏ธ
Saudi Aramcoโs CEO has warned that nearly 3 BILLION barrels of supply have been lost since the Strait of Hormuz crisis began.
Even the roughly 6 BILLION barrels remaining in storage may not be practically available because of location, oil grade, or ownership restrictions.
๐ Global demand: 100M+ barrels/day
๐ข๏ธ Available reserves: potentially less than 2 months of demand
โณ Rebuilding reserves could take up to 2 YEARS
And even if the Strait of Hormuz reopened today, the supply shock wouldnโt disappear overnight.
Oil markets may be facing a much bigger problem than traders realize. โ ๏ธ
#OilCrisis #oil #Aramco $CL
Saudi Aramcoโs CEO has warned that nearly 3 BILLION barrels of supply have been lost since the Strait of Hormuz crisis began.
Even the roughly 6 BILLION barrels remaining in storage may not be practically available because of location, oil grade, or ownership restrictions.
๐ Global demand: 100M+ barrels/day
๐ข๏ธ Available reserves: potentially less than 2 months of demand
โณ Rebuilding reserves could take up to 2 YEARS
And even if the Strait of Hormuz reopened today, the supply shock wouldnโt disappear overnight.
Oil markets may be facing a much bigger problem than traders realize. โ ๏ธ
#OilCrisis #oil #Aramco $CL
