Oil inventories drop amid refinery threat
A report by JPMorgan indicates that global crude oil inventories are heading toward a critical point, with expected lowest operational levels in September, dropping to approximately 1.6 trillion barrels and covering only 35 days of demand. This decline could lead to refinery closures and reduced oil production efficiency, threatening market stability and increasing inflationary pressures. Despite efforts to draw from strategic reserves, the ability to offset the shortfall is diminishing, and if the decline continues, it could trigger a high-risk global energy crisis and an economic recession, with significant impacts on fuel prices—particularly diesel, which is expected to continue rising.
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