Europe on the Brink: Oil Shortages Loom as Global Inventories Plummet Global oil stockpiles are rapidly depleting, leaving strategists warning that physical shortages could hit Europe by the end of this month.
This crisis is starkly at odds with the complacent tone of policymakers and market analysts, who seem oblivious to the impending disaster.
The Strait of Hormuz, through which flows a significant portion of the world's oil and gas supply, has been constrained since February 28th.