Goldman Sachs: Global Oil Inventories Fall to 8-Year Low
Refined fuel stocks have fallen to 45 days of demand, leaving airlines and industrial users exposed to shortages, Goldman Sachs said.
9 Articles
9 Articles
Goldman Sachs: Global Oil Inventories Fall to 8-Year Low
Global oil inventories are crashing and approaching an eight-year low, with the rate of depletion so fast that it exposes the market to further shocks, according to Goldman Sachs. Total oil stocks globally have dropped to about 101 days of expected demand, the lowest level in nearly eight years, analysts at Goldman Sachs said in a note carried by Reuters. With the Strait of Hormuz inaccessible for nearly all tanker traffic, these stocks could dr…
The world has plenty of oil, but a different shortage is emerging
Jet fuel shortages are emerging as a key pressure point in the global energy crisis.Agoes Rudianto/NurPhoto/Getty ImagesOil supply remains ample, but jet fuel and petrochemical feedstocks are tightening.Goldman Sachs warns fuel buffers are depleting fast, raising risks to aviation and industry.Refining bottlenecks and trade frictions drive shortages despite ample crude supply.The war in Iran has triggered a global scramble for oil as disruptions…
World oil stocks are rapidly shrinking and approaching critical levels — FTGlobal oil stocks fell 200 million barrels in April due to the war in the Middle East. Fuel reserves reached a minimum of eight years.
The world has plenty of oil, but a different shortage is emerging - Technology Shout
Oil supplies remain plentiful, but jet fuel and petrochemical feedstocks are straining. Goldman Sachs warned that fuel buffers are rapidly depleting, raising risks for aviation and industry. Although crude supplies are abundant, refining bottlenecks and trade frictions have led to shortages. The Iran war has sparked a global scramble for oil and disruption in the
Goldman Sachs estimates that oil reserves will only last for about three months, with the impact of distribution disruptions in the Strait of Hormuz possibly even sooner.
The situation in the Strait of Hormuz is far from calm. The consequences are visible on the markets, and may soon become even more pronounced when oil stops physically reaching consumers. But this isn't just about fuel. You can read all about it in today's issue of the BI stock market newsletter.
Coverage Details
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
