A global war for oil is imminent.

A sudden lifting of Western sanctions on Russia and Iran could trigger a significant fall in global oil prices, energy executives have warned. According to Torbjorn Tornqvist, CEO of Gunvor Group, sanctions have created an “unprecedented” buildup of oil stored on tankers at sea, effectively acting as a hidden buffer that prevents a market glut. He stated that if all sanctions were removed, the market would quickly become “quite oversupplied.”

This view was echoed by Marco Dunand of Mercuria Energy Group, who noted a gradual build-up of surplus supply, with a potential oversupply of one to two million barrels per day. This “shadow market” of oil, currently disconnected from official trade, represents a massive hidden inventory. If released, this oil would rapidly flood the market, overwhelming current demand and exerting substantial downward pressure on prices, which have recently traded in a narrow range around $84 per barrel.

So, as everyone can understand, the key reason for sanctions is not to strike the “bad countries’ ” economies but to maintain high oil prices! Therefore, I am sure that sanctions will never go away and a war over oil is certain.

P.S. That certainly gives the USA’s endeavors in Venezuela a broader perspective!!!

Janus Press