Mar. 21 at 1:33 PM
$GTE lost barrels are adding up.
However the consequences can quickly turn the other way as depression effects will turn down demand.
“Iraq's Oil Minister Hayan Abdel-Ghani said crude production at Basra Oil Company has been cut to 900,000 barrels per day (bpd) from 3.3 million bpd after exports from the country's southern ports were halted, according to a ministry statement on Friday. The produced quantities were being pumped to operate refineries, the ministry statement said.”
Excerpt From
“Exclusive: Iraq declares force majeure on foreign-operated oilfields over Hormuz disruption, sources say”
Aref, Mohammed, Ahmed Rasheed
Reuters
https://apple.news/AdxkMpDJOQPSUA4tTV11U5w
This material may be protected by copyright.