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2026-11-04 18:44:27
[Barclays Warns: Tight Physical Crude Oil Supply Could Lead to New Round of Sharp Price Volatility] ⑴ A recent Barclays report indicates that global inventories have fallen to just 4.3 billion barrels, 200 million barrels below the seasonal average. ⑵ Oil flows in the Gulf region have dropped to 7-10 million barrels per day, compared to 20 million barrels per day before the conflict. ⑶ US onshore oil production growth has slowed to near zero. ⑷ The report states that there is almost no evidence of a genuine diplomatic breakthrough. ⑸ Current prices reflect hopes for a diplomatic breakthrough, not the reality of tight physical supply. ⑹ The report argues that while the market can be manipulated through false headlines, oil cannot be conjured out of thin air.
