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JPMorgan Analyst Predicts Potential Oil Shortage in California
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Natasha Kaneva, head of the global commodities strategy team at JPMorgan, has recently forecasted a potential global oil shortage, which might even affect California. Earlier this month, Kaneva was criticized by Treasury Secretary Besant for questioning the feasibility of insured tankers safely navigating through the Strait of Hormuz. Kaneva pointed out that California is the most vulnerable region in the United States due to its structural isolation from other parts of the country and its heavy reliance on imports from Latin America, Canada, Asia, and the Middle East. Kaneva observed a decrease in global inventory data, noting a reduction of 155 million barrels in the first three weeks of March, primarily driven by a daily reduction of 2.11 million barrels in oil in transit. (to/s) Auto-translated by third-party software This translation was auto-generated by third-party software. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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