Bloomberg reported a record rate of decline in global oil reserves

Global oil reserves are rapidly declining amid the conflict in the Middle East and restrictions in the Strait of Hormuz, through which a significant part of oil supplies from the Persian Gulf were previously carried out. This was reported on May 9 by Bloomberg, citing experts.

"Global oil reserves are being depleted at a record pace as the war with Iran restricts supplies from the Persian Gulf, depleting the very buffer that protects against supply shocks," the publication says.

The news is being updated