Japan has just recorded its largest ever drop in crude oil reserves!

According to the latest data, Japan's oil reserves have plummeted from approximately 350 million barrels to just under 275 million barrels in a very short period.
- This represents the largest supply depletion in Japanese history.
On the other hand, worrying international developments include:
- Gasoline and distillate product inventories in the US are nearing multi-year lows.
- Oil shipping through the Strait of Hormuz has not fully recovered.
- Many Asian countries are increasing energy stockpiles to ensure supply security.
- Global oil market spare capacity is shrinking.
Japan's large-scale withdrawal of oil from its strategic reserves is not simply a technical fluctuation. The market typically only witnesses large-scale stockpiling when there is supply pressure or a need to ensure national energy security.
If the trend of inventory depletion continues to spread to other major oil-importing economies, the market may begin to reassess the risk of supply shortages in the second half of the year.
- Currently, most investors are still focused on the story of economic growth and consumption demand, while supply is being eroded faster than expected.
-> One of the key facts to confirm that oil prices could quickly become inflationary again and exceed the previous all-time high of 15-30%.