Wednesday, June 17, 2026

2027 global oil glut headlines, but 2026 historic lows are the present reality

 And Donald Trump has put Iran in the catbird seat. 
... stockpiles are now dangerously low.
Among the 38 wealthier countries in the Organisation for Economic Cooperation and Development, stockpiles are at their lowest level since 1990, according to the IEA.
“Further declines in the coming months could still take global oil stocks to historic lows before the market balance shifts to surplus,” the IEA warned. ...