Global oil stockpiles run low as market risks rise
Industry executives warn that global oil storage buffers are running low following significant drawdowns due to geopolitical conflicts. This leaves the energy market fragile and creates upward pressure on prices.
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Global oil storage buffers have fallen below 6 billion barrels, leaving markets vulnerable to price volatility after years of drawdown. The depletion follows supply disruptions driven by geopolitical conflicts in Saudi Arabia and Ukraine over the past year. Less than 10% of remaining inventories are practically available for use.
