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Goldman Sachs warns that global oil stocks are nearing their lowest levels in eight years, potentially dropping to 98 days of demand by the end of May, as tensions in the Strait of Hormuz escalate, causing oil prices to spike by 6%. #OilPrices #GlobalStocks #SupplyChain #IR #AE #US
www.reuters.com
Goldman says global oil stocks approaching eight-year low, depletion speed a concern
May 4 (Reuters) - Global oil stocks are approaching their lowest level in eight years, Goldman Sachs said on Monday, warning that the speed of depletion was becoming a concern as supplies through the Strait of Hormuz remained restricted.
