Oil prices could surge beyond historical levels as global markets approach a critical juncture, according to experts who warn of a 'red zone' triggered by declining inventories, disrupted supply chains, and shifting consumer demand. Fatih Birol, an influential energy analyst, has outlined a potential crisis that may unfold in July or August if no immediate measures are taken. His warning comes amid a sharp rise in crude oil inventories, which have slowed down their recovery compared to previous years, as seen in March and April when inventories dropped by 5.27 million barrels per day and accelerated to 8.62 million barrels per day. These declines suggest a systemic imbalance between storage and demand, exacerbated by a growing focus on travel and seasonal consumption.
