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According to Kpler data, over 500 million barrels of crude oil and condensate have been removed from the global market since the crisis started in late February, marking the most significant disruption to energy supplies in contemporary history.
Ian Mowat, lead analyst at Wood Mackenzie, states that the market's loss of this oil volume equals a 10-week drop in global aviation demand, an 11-day total halt of global road traffic, or a five-day oil shortage for the global economy.
As per estimates from Reuters, this amount is almost equivalent to a month’s oil usage in the United States. The report indicates that 500 million barrels of oil could sustain the global shipping industry for duration of four months.
According to Johannes Rauball, senior oil analyst at Kpler, the missing volumes due to oil prices averaging about $100 per barrel since the onset of the conflict represent an estimated $50 billion in lost revenue.
source: reutes.com
Ian Mowat, lead analyst at Wood Mackenzie, states that the market's loss of this oil volume equals a 10-week drop in global aviation demand, an 11-day total halt of global road traffic, or a five-day oil shortage for the global economy.
As per estimates from Reuters, this amount is almost equivalent to a month’s oil usage in the United States. The report indicates that 500 million barrels of oil could sustain the global shipping industry for duration of four months.
According to Johannes Rauball, senior oil analyst at Kpler, the missing volumes due to oil prices averaging about $100 per barrel since the onset of the conflict represent an estimated $50 billion in lost revenue.
source: reutes.com
