IRAN WAR WIPES OUT 2.6B BARRELS OF OIL SUPPLY

Saudi Aramco CEO Amin Nasser said the Iran war has removed 2.6 billion barrels of crude from global supply.

Traffic through the Strait of Hormuz has fallen to just 10% of pre-war levels, with more than 100 million barrels of supply lost for every week the route remains closed.

Even if Hormuz reopened today, rebuilding global oil inventories could take up to 18 months.

Nasser also warned that any major refinery outages would further tighten energy markets, where refining capacity is already stretched.

IRAN WAR WIPES OUT 2.6B BARRELS OF OIL SUPPLY

Saudi Aramco CEO Amin Nasser said the Iran war has removed 2.6 billion barrels of crude from global supply.

Traffic through the Strait of Hormuz has fallen to just 10% of pre-war levels, with more than 100 million barrels of supply lost for every week the route remains closed.

Even if Hormuz reopened today, rebuilding global oil inventories could take up to 18 months.

Nasser also warned that any major refinery outages would further tighten energy markets, where refining capacity is already stretched.

Source:https://twitter.com/deitaone/status/2084565299383120014