Antininny
577
25
5
https://www.cnbc.com/2026/03/11/iea-oil-reserves-crude-prices-iran-g7-energy.html
Mar 11, 2026 2:16 PM
Antininny
577
25
5
https://www.cnbc.com/2026/03/11/iea-oil-reserves-crude-prices-iran-g7-energy.html
Cronos51101
"Is 400 a lot of oil?" It's about what the US burns in 20 days. Imagine 12 football fields, filled 10 feet deep with oil. We burn that daily
maybeamonster
"four days worth of oil released to market"
bippityboppitybuttsex
So, 20M barrels go thru the Strait of Hormuz, daily... so, 400M should give you 20 days of lost supply...
Tat being said, this is a band-aid as I don't see Iran to just stop threatening the strait in the next six months... all they need to do is harass shipping (a little) to get insurance companies to spike rates so high that nothing is insurable.
Antininny
It is the largest ever release of its kind. I guess four full days makes a difference.
maybeamonster
I'm sure it does. Oil is basically rig to plant to pump without ever sitting around much. Covid drove the price negative as everyone tried to get rid of owned overstock they didn't want to pay storage on. I just find the numbers there so ridiculous. 400 million sounds like a ton that should last a while, but it's really just shoring up fungible liquidity in the system. We use so much oil that any disruption either overloads the buffers or sees them empty in days.
Antininny
Bro, they will release more if the "conflict" lasts longer.