John Kilduff of Again Capital has warned that restarting oil production in the Gulf region will be a prolonged process taking several months. According to Kilduff, the primary challenge currently facing the market is the critical state of oil storage capacity in the region. These storage facilities are reportedly reaching their limits, creating a significant bottleneck for energy producers. Consequently, energy markets are expected to remain under substantial pressure for an extended period. This combination of technical delays and storage constraints is likely to drive further volatility in global crude prices.
Get AI-powered deep analysis for every story with a paid subscription
Upgrade for Analysis