Oil Supply Losses in Persian Gulf Could Exceed 2 Billion Barrels by Year-End, Oxford Institute Estimates

According to the Oxford Institute for Energy Studies, oil supply losses in the Persian Gulf caused by Middle East conflict could exceed 2 billion barrels by year-end on June 2. Bassam Fattouh, the institute's director, stated at the S&P Global Middle East Oil & Gas Conference in London: 'Based on our reference scenario, we estimate supply losses may exceed 2 billion barrels by year-end.'
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