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Financial Times/David Sheppard and Tom Wilson/6-7-2022
“Jeremy Weir, chief executive of the commodity trader, said that energy markets were in a ‘critical’ state as sanctions on Russia’s oil exports following its invasion of Ukraine had exacerbated already tight supplies created by years of under-investment.”
USAGOLD note: Simultaneously, some question the Middle East’s ability to produce in line with international usage and fill the gap created by Russia’s removal from the supply equation. (Please see Saudi Arabia is increasing supply — so why is the oil price holding firm?)
Graphic courtesy of HowMuch.net
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