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EU🛢️ Global Oil Storage to Run Empty by July 4 Period, Warns Carlyle’s Jeff Currie — “Never Seen Anything Like This”
Oil storage tanks in the United States will run empty “somewhere in the July 4 period,” Carlyle’s Jeff Currie tells Bloomberg.
📅 Timeline of depletion:
· May: Australia, Philippines, Thailand will run out of oil
· Then Europe: hitting tank bottoms
· Then US: somewhere around July 4th (if not sooner)
🗣️ What Currie said:
“By the way, the inventory numbers coming out of the US — the ones we got last night, the ones we got last week — I’ve never seen anything like that before.”
📊 Deficit vs. Shortage:
Currie defines a deficit as when demand exceeds supply — the US and Europe are in deficit now. A shortage occurs only when tanks hit bottom.
⚠️ Context:
The closure of the Strait of Hormuz and Iran’s blockade have choked global oil supply. Even the US Strategic Petroleum Reserve cannot offset a 10+ million barrel per day loss indefinitely.
🎯 The bottom line:
The world is burning through its oil savings. When the tanks hit empty — likely by July — prices will skyrocket.
🔗 Bloomberg
#OilCrisis #Energy #Hormuz #Currie #GlobalEconomy 🛢️📉⏳
@eurasianeditorial
