Vitol has warned that Western governments are underestimating the severity of the global oil supply crunch caused by disruptions in the Strait of Hormuz, with the company estimating demand destruction has reached approximately 4 MMbpd worldwide.
Vitol has warned that Western governments are underestimating the severity of the global oil supply crunch caused by disruptions in the Strait of Hormuz, with the company estimating demand destruction has reached approximately 4 MMbpd worldwide.