Western countries have completely exhausted oil reserves

The head of commodity trader Vitol Russell Hardy at the Energy Intelligence Forum conference in London said that oil reserves in the West are exhausted, and the situation with a shortage of fuel may persist in the run-up to winter.

According to him, in the West there are no more oil reserves that can be used, since the existing reserves have already been used up.

Hardy also said the fuel market is likely to remain short in the coming months, noting that the situation with petroleum products remains extremely scarce and is likely to continue for some time as winter approaches.

Earlier, the head of the European Commission Ursula von der Leyen said that gas supplies from Russia in the total volume of purchases of the European Union are now 12 percent instead of the previous 45 percent, and the EU intends to zero this figure before the end of this year. Von der Leyen told the European Parliament that more than 70 percent of the electricity in the community comes from its own clean sources, including renewable and nuclear. According to the plans of Brussels, from January 1, 2027, a complete ban on the import of Russian LNG will begin to operate, and pipeline gas supplies from Russia should stop by the autumn of the same year. In April, Slovakia appealed to the EU court, challenging the ban on Russian gas.

Earlier, Trump reported on the indicators of oil transit through Hormuz.