Is There Really a Global Shortage of Crude?: Oil Strategy - Bloomberg:
From Russia to Saudi Arabia, Iran to Venezuela, the list of crude oil supplies being curtailed or disrupted around the world is growing longer by the month.
This story examines whether the market’s biggest supply shifts are actually netting out into a global shortage of oil or not. The answer is a complex one, hinging on the type of crude in question and the time-frames selected.
The simplest supply measure is all the oil pulled out of the ground globally. On this view it does indeed look like global production has fallen sharply over the past six months, as the OPEC+ group of countries slashed supply, while the U.S. has toughened sanctions on the oil industries of Iran and Venezuela.
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