🔺🔻Warning from Energy Giants about $200 Oil 🔹Executives from major energy companies have warned that if the war continues and the flow of oil from the Strait of Hormuz is halted, the price of crude oil could reach $200 per barrel. 🔹The CEO of Chevron says the actual price of oil when it reaches Asia has risen to about $150 per barrel, while Brent oil is trading at around $100 in the futures market. 🔹The CEO of Vitol also warned that disruption in Middle Eastern oil supply could exacerbate market crises, leading to a shortage of petroleum products that could last until winter and a potential $200 scenario. 🔹The CEO of Aramco also reported a significant reduction in global oil reserves, stating that it could take up to 2 years to rebuild these reserves.
Translated regional report
Warning from Energy Giants about $200 Oil
Automated translation and editorial curation by Middle East CatchSite publication
Original report: Akharin KhabarOriginal publication Editorial policy
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