some facts for anyone imagining taping the US Strategic Reserve...

some facts for anyone imagining taping the US Strategic Reserve or OPEC pumping freely will plug the gap for more than a few weeks:

Attacks on Saudi oil supply effectively wipe out the world's spare capacity, S&P Platts says

• The attacks on critical oil production facilities in Saudi Arabia over the weekend will effectively wipe out the world’s spare oil capacity, an expert from S&P Global Platts said on Monday.
• The country’s national oil company, Saudi Aramco, has 35-40 days of supply to meet contractual obligations, according to a source close to the matter.
• “This attack has material implications for the oil market, as a loss of 5 million barrels per day of supplies from Saudi Arabia cannot be met for long by existing inventories and the limited spare capacity of the other OPEC+ group members,” wrote Alan Gelder, vice president for refining, chemicals and oil markets at Wood Mackenzie

https://www.cnbc.com/2019/09/16/ara...s-on-oil-supply-wipes-out-spare-capacity.html