International Energy Agency head Fatih Birol warned that commercial oil inventories are rapidly depleting, with only a few weeks of supply remaining due to the Iran war and Strait of Hormuz closure. Strategic reserve releases have provided temporary relief, but demand is increasing with seasonal shifts. The agency previously forecast a surplus but now anticipates a significant shortfall this year.
Yea, problem is that also eventually runs out.
Yup, and that’s probably going to happen in the coming months, after that there’s no way to stabilize the prices.