World’s commercial oil reserves are running out in a matter of weeks

Fatih Birol, head of the International Energy Agency, said this, adding that commercial oil reserves are rapidly being depleted due to Iran’s blockade of the Strait of Hormuz.

Birol said that the release of strategic oil reserves in March added 2.5 million barrels of oil per day to the global market, but noted that these reserves are “not infinite.”

The start of spring planting and summer travel periods in the northern hemisphere are also contributing to the accelerated depletion of available oil.

The IEA previously reported that global oil inventories fell at a record pace in March and April, decreasing by 246 million barrels.

#oil #iran

$BZ

BZUSDT

Безсрочно

95.83

+0.51%

$CL

CLUSDT

Безсрочно

93.45

+1.16%