Oil Prices Face Upside Risks as Global Supply Disruptions Deepen
5 Articles
5 Articles
Oil Prices Face Upside Risks as Global Supply Disruptions Deepen: Report
Get latest articles and stories on Business at LatestLY. Oil prices face further upside risks in the coming months as a combination of geopolitical disruptions, constrained shipping, reduced refining capacity and declining inventories leaves global oil markets increasingly tight, Morgan Stanley said in its latest research report. Business News | Oil Prices Face Upside Risks as Global Supply Disruptions Deepen: Report.
Global energy turmoil caused by wars in the Middle East and Ukraine has triggered fuel shortages in the global shipping industry.
Losses in refining activity due to the US/Israel-Iran and Russia-Ukraine wars, seasonal oil demand, and limited spare capacity are deepening the supply squeeze in the global petroleum products market.
Refinery losses stemming from the US/Israel-Iran and Russia-Ukraine conflicts are deepening the global supply squeeze. According to the International Energy Agency, refinery processing volume is expected to decrease by 2.6 million barrels per day this year.
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