Investors rattled by the war in Iran have sent oil prices skyrocketing – and global governments have noticed. The world’s biggest economies are now considering emergency releases of millions of barrels of oil into the market.
But while that might sound like a lot, experts say even tens of millions of barrels are more like a drop in the bucket when it comes to global oil needs.
That’s because the world, and the US, uses so much oil every single day that even a relatively large one-time release won’t be able to offset the continued closure of the Strait of Hormuz, a key waterway for