Energy & Climate
Oil expert says 100 million barrels flooded market creating unprecedented glut
Mario Nawfal Interviews
"I'VE NEVER SEEN THIS IN 30 YEARS" - Jeffrey Currie On Global Oil Prices
What was said
"I've been doing this three decades. I've never seen a 100 million barrels thrown on a market immediately like what just happened. So, this is unique, but when we look at all the other measures, you know, like gasoline prices and diesel prices, they still remain extraordinarily elevated."
An experienced oil market analyst reveals that approximately 100-150 million barrels were suddenly released into global markets over three weeks, primarily from ships previously trapped behind the Strait of Hormuz. Despite this unprecedented glut causing crude oil prices to crash, gasoline and diesel prices remain extremely high, suggesting a potential refining capacity shortage rather than a crude supply problem.
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- Programme
- Mario Nawfal Interviews
- Episode
- "I'VE NEVER SEEN THIS IN 30 YEARS" - Jeffrey Currie On Global Oil Prices
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Mario Nawfal Interviews