Western countries have exhausted available reserves, and the fuel shortage could persist for the coming months, acknowledged Russell Hardy, head of the commodities trading firm Vitol, as cited by the press.
"There are no more stocks left to tap into in the West," he remarked during the Energy Intelligence Forum held in London.
Previously, Saudi Aramco CEO Amin Nasser warned that global crude oil reserves are alarmingly low and that, due to various logistical issues, less than 10% of them are actually available.
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