22 Hrs
Source:
الراي
IMF warns of declining strategic oil reserves
The Chief Economist at the International Monetary Fund stated that withdrawals from strategic oil reserves have helped prevent a sharp increase in oil prices as a result of the conflict in the Middle East. However, the risk of a global economic downturn remains if the deterioration in the ceasefire between the United States and Iran continues. He added that these reserves have now been significantly depleted, reducing countries' ability to respond should the conflict escalate again, with a likelihood that reserves will be further diminished if hostilities resume. He also pointed out that changes in global trade following Trump's tariffs indicate a trend towards new trade agreements, although the effectiveness of sanctions might decline as the global economy rapidly finds ways to circumvent them.
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