Kelai Group: The situation in the Middle East will lead to a daily stockpiling of several million barrels of crude oil.

Jeff Currie, Chief Strategic Officer of the Kare Group Energy Path, stated that with buyers hoarding supplies, the impact of Middle Eastern oil shocks will drive "precautionary demand" of 2-3 million barrels per day in the next three to six months. Currie said in a report that hoarding behavior may have absorbed any remaining excess oil inventories.