The Current Oil Crisis Is Bigger Than COVID. Literally 🚨

During COVID, the world stopped needing oil — demand collapsed by 23 million barrels per day. The Hormuz blockade has cut supply by 24 million. The difference is critical: this time the demand is still there. The world needs the oil. Today is day 26 of the blockade.

OPEC's response has been 206,000 additional barrels per day. That covers only 2% of the hole.

Every day the blockade holds, the numbers get worse. Here is where it stands right now 👇

⏺India: 74 days of reserves left, government scrambling for emergency suppliers

⏺Philippines: declared a national state of energy emergency, first country in the world to do so, gas prices up 100% since February 28

⏺Australia: 500+ gas stations out of fuel, 187 completely out of diesel

⏺New Zealand: roughly 3 weeks from running out entirely, no domestic refining capacity

⏺Japan: officially claimed 254 days of reserves, actual usable number is 95

⏺Sri Lanka: rationing, 4-day work week, schools closed

⏺Pakistan: overnight price surges, long queues at pumps, 4-day work week

⏺South Africa: government says situation is stable, citizens are photographing empty pumps

⏺Turkey: stocks crashed, inflation exploding, currency under pressure

🇪🇺 ECB president Lagarde warned that energy disruptions may last years and that economic consequences will emerge only gradually. India's PM Modi has already compared it to COVID.

This has a supply wall with no clear end date and governments that are visibly lying about how much runway they actually have.

#OilPricesDrop #US-IranTalks #Trump's48HourUltimatumNearsEnd #AsiaStocksPlunge