Global fuel stocks to run out in 45 days

Pars Today – Goldman Sachs has warned that the world has only 45 days of gasoline, diesel, and jet‑fuel reserves remaining.

According to Pars Today, quoting IRIB News Agency, Goldman Sachs analysts wrote that global oil inventories are falling and approaching their lowest level in eight years, with the pace of decline so rapid that it is exposing the market to further shocks.

The analysts stated that total oil inventories worldwide have dropped to the equivalent of about 101 days of expected demand, the lowest level in nearly eight years.

They warned that due to the lack of access to the Strait of Hormuz, this inventory could fall to 98 days of demand by the end of May.

In their note, the analysts added that while it is unlikely that global oil inventories will reach their minimum operational levels this summer, “the speed of the decline and the drop in supply in some regions and products is concerning.”