Iran conflict reduces oil demand by 1.6 million bpd
after close1 source ↓written by the desknot a recommendation
- drop in oil
- 1.6 million bpd
- per barrel
- $123.83
The ongoing war in the Middle East has led to a 1.6 million bpd drop in oil demand, according to ING analysts. In contrast, supply destruction is estimated between 13 million bpd and 14 million bpd. With Brent crude trading at $123.83 per barrel, traders anticipate prolonged supply disruptions, pushing prices higher. ⚡
Not investment advice. For informational purposes only.