OOPS...Oil prices crashes -$30+ dollars in less than 16 hours; "Crude Oil Price Forecast 2026: $140 War Premium or $60 Surplus Baseline?" BIG FAIL
(bingx.com)
🤡 MSM Conspiracy Theory 🤡
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (19)
sorted by:
67% of all oil produced by Saudi Arabia, UAE, Kuwait, Qatar, Oman and Bahrain goes to Asian markets.
China is the world's largest importer of Persian Gulf crude oil, importing 36% of it's oil from there.
India is the 2nd largest importer of Persian Gulf crude oil, importing almost 50% of its oil and gas supplies from there.
Japan & South Korea round out the top four Asian countries.
All together, these four countries account for 67% of the oil flowing through the Strait of Hormuz.
The United States only imports about 10% of our oil from the Middle East. In a pinch, the US can be self-sufficient.
The EU was historically a large buyer of Persian Gulf oil, but has been increasingly sourcing non-OPEC sources of oil and gas or switching to renewables. The EU has been buying a LOT of North African oil and Eastern Mediterranean oil, or importing South American crude oil.
Who gets hurt the worst in the Persian Gulf shutdown? Well... the biggest loser is China, followed by India.
BONUS SHITPOST: "Trump renames 'Strait of Hormuz' to 'Strait of America' to forcibly void and then take over all Lloyd's of London maritime insurance business.": https://media.scored.co/post/OFGjYgeaLEis.jpeg
Major kek.
♥️♥️♥️
Correct. Big block of Russian oil that has been sitting in tankers in the ocean for ~2 months just got rerouted to Indian refineries (1.4M barrels with another 9.5M barrels on the way). It appears to have been redirected from Chinese refineries. (announced 3-4-26 immediately after insurance fix applied 3-3-26) https://www.theresearchers.us/2026/03/04/russia-supply-oil-india/
Also, it appears that Saudi, Kuwait, and others have been stockpiling oil in storage for the last two years. It is suspected to be ~25% of yearly OPEC output. It is being released now or soon will be. They probably just sold it to the dummies manipulating the oil contract price for $117 per barrel (contract locked in). /s
And in the meantime, US oil output projected to hit 20M barrels a day by July 4 (+50% from NOV 2025). Estimated "max capacity" of the US is around 58M barrels a day, but requires PA and CA to get their heads out of their asses.
Add Guyana to your big picture. They are at 1 million bps and expect to be at 1.7 million bps by 2030. Light sweet crude. Next door Suriname is starting to ramp up, but the going is a little slower.