Post #3918493

2026-07-18 18:58 UTC

Something weird is going on! Last month, Donald Trump admitted that his war on Iran, which closed the Strait of Hormuz and sequestered about a quarter of global oil production, had driven global oil reserves to nearly zero: “We run out of reserves at about four weeks. You know, there are reserves all over the world, and we would really run out, and there’ll be a time when you wouldn’t be able to get it. It would be bedlam.” This was the moment was Trump signed his humiliating and catastrophically flawed “Memorandum of Understanding” with Iran, suggesting that he’s at least lucid and risk-averse enough to recognize the dangers to him if global oil reserves really did crater. https://www.icis.com/chemicals-and-the-economy/2026/06/trump-confirms-oil-reserves-are-down-to-just-4-weeks/

Replies (1)

@HeavenlyPossum@kolektiva.social 2026-07-18 19:01

But! Take a look at the chart in the link below, which covers vessel traffic in the Strait of Hormuz from February to 9 July. It shows that the number of vessel transits cratered after the US attacked Iran. And, other than a slight uptick in July, following the MOU, it has not meaningfully recovered. The world is *still* down about a fifth to a quarter of its oil production, as well as gas and an array of other critical industrial products. https://understandingwar.org/research/middle-east/iran-update-special-report-july-9-2026/

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