Clayton Siegel
👤 SpeakerAppearances Over Time
Podcast Appearances
And if we're talking about 20 million barrels a day of crude and refined products that have already been bottlenecked in the Arabian Gulf and the prospect of having this go on for a month, I mean, that's 600 million barrels that could potentially be deprived to buyers around the world.
That's basically a week of no oil.
Wow.
And if we're talking about 20 million barrels a day of crude and refined products that have already been bottlenecked in the Arabian Gulf, and the prospect of having this go on for a month, I mean, that's 600 million barrels that could potentially be deprived to buyers around the world.
That's basically a week of no oil.
We are seeing a deterrent effect on those shadow tankers because quite a few of them that were on their way to Venezuela are staying away.
Most of Venezuela's oil actually winds up in China.