Posted 4/7/2024, 2:00:05 PM
Global Oil Supply Squeezed by Sanctions, Attacks, and OPEC Cuts, Risking $100 Oil
- Mexico slashing crude oil exports, compounding global supply squeeze
- American sanctions stranding Russian oil cargoes, Venezuelan supply could be next target
- Houthi attacks on tankers in Red Sea delaying crude shipments
- Despite turmoil, OPEC+ sticking with production cuts, further tightening supply
- Perfect storm of supply disruptions turbocharging oil price rally, threatening $100/barrel oil