Russell Hardy, CEO of the world’s largest independent oil trader, Vitol Group, said at the Energy Intelligence Forum in London that there are no longer any oil stocks in the West that can be used. According to him, the fuel shortage in markets in winter is likely to persist, and a shortage of tankers and logistical problems will intensify tensions and support a scenario with prices up to $200 per barrel.

#G7 #SaudovskajaAramko #Vitol #InternationalEnergyAgency #StraitofHormuz #PersianGulf

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Saudi Aramco CEO Amin Nasser said that global oil reserves are at a dangerously low level, and the US war with Iran has reduced oil supplies from the Persian Gulf region by almost 3 billion barrels. According to him, it may take up to two years to replenish depleted reserves if the Strait of Hormuz is fully opened.

#SaudovskajaAramko #Iran #Nasser #StraitofHormuz #PersianGulf #USA

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