Global Oil Reserves Plunge at Record Pace Amid Iran War
13 Articles
13 Articles
Every day that passes with the closed Strait of Ormuz, and without being able to flow through it a fifth of the oil and its derivatives that are consumed on the planet is another day in the countdown to move from shock in energy prices to problems in the supply and a possible economic recession.The rapprochement of positions between Iran and the United States this Wednesday, confirmed by Donald Trump, caused a drop of up to 10% in the price of o…
Global Oil Reserves Plunge at Record Pace Amid Iran War
Global oil reserves plunged at a record rate in April, as the ongoing Iran war and ensuing closure of the Strait of Hormuz strained supplies, according to estimates by S&P Global Energy reported on May 6. Stockpiles of crude fell by nearly 200 million barrels, or 6.6 million barrels per day, even as higher prices triggered a collapse in demand of about 5 million barrels per day, marking the sharpest ever fall outside of the COVID-19 pandemic, ac…
According to the S&P Global Energy and Goldman Sachs analysts, global oil reserves declined by a record 200 million barrels in April, despite falling demand due to rising commodity prices caused by the US war against Iran.
In April 2026, the world's oil reserves declined by almost 200 million barrels, corresponding to the speed of about 6.6 million barrels per day, an absolute record since the cowid pandemic, based on data from S&P Global Energy, which gives the Financial Times.
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