Learn languages naturally with fresh, real content!

tap to translate recording

Explore By Region

flag Global oil demand dropped due to supply shortages, causing inventories to fall.

flag Global oil demand dropped sharply in April due to supply shortages rather than high prices, according to a JPMorgan report. flag Supply disruptions reached 13.7 million barrels per day, driven by issues linked to the Strait of Hormuz, with spare capacity in Saudi Arabia, the UAE, and Russia insufficient to fill the gap. flag This "forced demand loss" caused global inventories to fall, with the Middle East, Asia, and Africa seeing an 87% drop in consumption. flag Petrochemical and aviation sectors were hit hardest, with India's LPG use dropping 13% year-on-year.

15 Articles