️ Oil Reserves in the West Are Depleted, According to Russell Hardy, CEO of the Commodity Trading Company Vitol
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8 Articles
Western oil reserves had been exhausted as a result of the war in Iran, said the Director General of the world's largest independent oil trader, Vitoll Group Russell Hardy. The oil reserves in the West had been exhausted as a result of the Iran war, stated Hardy at the London Energy Forum, Bloomberg. "There are no reserves that could be spent on the West," he said.
EADaily, October 6, 2026, Iran's war forced the West to spend all available oil reserves, as announced by Russell Hardy, Director General of International Petroleum Trades, Vitoll Group.
Western countries' oil reserves have been depleted as a result of the conflict with Iran, and the situation is getting worse. This was announced by the CEO of ...
In the West, available oil reserves have been exhausted to compensate for supply shortages, as announced by the head of the commodity trader Vitoll Russell Hardy at the Energy Intelligence Forum conference in London, Bloomberg reports.
Russell Hardy, CEO of commodities trading company Vitol, stated that usable oil reserves in Western countries have been depleted, and that the supply shortage in the fuel market could continue into the winter months.
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