412 million barrels will soon flood oil markets — will it matter?

In the second week of the Iran war – with the Strait of Hormuz effectively closed, cutting off shipping of 20% of the world’s oil supply – the International Energy Agency announced the largest release of strategic oil reserves in history. Thirty-two countries will sell a combined 412 million barrels from their reserves into the [...] The post 412 million barrels will soon flood oil markets — will it matter? appeared first on Asia Times .