Global Supply Risk Warning at Asia Pacific Petroleum Conference
Officials speaking at the conference in Singapore drew attention to shipments in the Strait of Hormuz and the decline in global inventories.
At the Asia Pacific Petroleum Conference held in Singapore, officials highlighted the risk of supply shortages in the markets, drawing attention to oil shipments in the Strait of Hormuz and the decrease in global inventories.
Strait of Hormuz Shipments
According to statements made at the conference, daily oil shipments through the Strait of Hormuz reach a total of approximately 10 million barrels.
Global Inventories and Refineries
It was stated that global petroleum product inventories continue to decline and that there is insufficient refinery capacity to prevent the current decreases.
Crisis Risk in Fuel Markets
It was noted that losses in refined product exports originating from the Middle East and Russia are dragging fuel markets into a deeper crisis than crude oil.