JP Morgan Warns of Catastrophic Oil Supply Loss from Middle East War ...Middle East

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JP Morgan Warns of Catastrophic Oil Supply Loss from Middle East War
source : OILPRICE ( Middle East ) () 46
The war in Iran could result in production losses of over 3 million barrels daily by the end of the week, with those losses potentially topping 4 million barrels daily if the war continues for more than a couple of weeks. This is according to JP Morgan commodity analysts who said Iraq is the most vulnerable, with three days of storage space, while Kuwait had two weeks’ worth of storage before it was forced to start cutting production.  Iraq has already started shutting in oil production, due to storage capacity constraints. To date,…

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