Asian Oil Inventories Near Bottom; Expert Warns US May Face Shortage in July

Jeff Currie, Chief Strategy Officer at Carlyle Group, warned that Asian oil inventories are nearing 'minimum operating levels.' He noted that global inventory data can be misleading because much of the reserves are inaccessible. Currie stated that Asia is already at this point, Europe is about a month away, and the US should watch out for July. This echoes warnings from the IEA, which stated that if Middle East exports do not recover, the global market could enter a dangerous zone by July or August. Currie dismissed proposals like suspending gasoline taxes, arguing that the fundamental solution is reopening the Strait of Hormuz, though market recovery will take time.