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Global reserves reach one billion barrels for six months
The article summarizes that the world is facing an even greater crisis in energy security, following the loss of approximately 2.6 billion barrels of oil supplies since the start of the war between the United States and Iran. This amount is enough to meet global consumption for 25 days. Despite large stockpiles, the portion that can be quickly tapped is much smaller, in addition to damage to refineries and disruptions in refining and shipping chains, which increase pressure on supplies of refined products such as diesel and jet fuel. The current supply-demand gap is estimated at around 5 million barrels per day. Global reserves are believed to be enough to cover approximately 180 to 300 days, depending on the source, but the situation is worsening due to deteriorating infrastructure and disruptions in refined product production. The United States has limited reserves, roughly 200 million usable barrels, while China holds larger reserves enabling it to withstand disruptions for up to a year. The most pressing challenge relates to shortages of refined products, especially diesel and jet fuel, which exacerbates the risks of rising prices and supply shortages in certain markets.
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