Great news. And it only take from 1 to 3 months to deliver to refineries, with the most typical range of 60-90 days. It isn’t just about “releasing” it, it’s “getting it somewhere.”
So, relief for amphetamine traders, not so much for sticker shock at the gas pumps.
The global economy is in for a big old horrible shock.
I’m a bear. My pig crap awaits for my happiness.
Oman has oil fields, oil refineries, and a couple deep water ports on the Arabian Sea.
These infrastructure are cooperative with Kuwait.
The Straight of Hormuz had been a threat for at least 40 years.
WHY have the Saudis, UAE, Kuwait, Iraq n Oman NOT built a major pipeline southwest of the SoHormuz, through southern Saudi Arabia and Oman to the Oman oil ports on the Arabian Sea, n bypassing the SoHormuz?
ralph
IMEC is a “planned” India -Middle East Corridor that traverses Oman n Saudi to Israel port, across the eastern Mediterranean to SE Europe Greece n Italy.