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‘This is bad’: Strategists see European oil shortages within weeks as inventories are depleted
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- LONDON - Global oil stockpiles are plummeting and inventories may not recover until December 2027, strategists warn, with physical shortages potentially looming over Europe by the end of this month.
- Speaking with CNBC's "Squawk Box Europe" Monday, Currie said that oil supply concerns will intensify as inventories are depleted, adding that once the shortages hit, prices will go "non-linear."
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LONDON - Global oil stockpiles are plummeting and inventories may not recover until December 2027, strategists warn, with physical shortages potentially looming over Europe by the end of this month.
Jeff Currie, executive co-chairman at Abaxx Commodity Exchange, said that physical shortages could hit Europe "any day now," and the severity of the ongoing supply crunch is not yet reflected in oil prices or policymakers' remarks.
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