Global Oil Reserves Decrease at Record Rates

Global oil reserves are decreasing at record rates due to the situation created in the Strait of Hormuz. This was reported by Bloomberg, citing data from Morgan Stanley.

According to the agency, during the period from March 1 to April 25, reserves were reduced by approximately 4.8 million barrels daily. It is noted that the current decline rate has exceeded previous historical highs recorded by the International Energy Agency (IEA).