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JPMorgan: Oil supply disruptions may halt up to 12 million barrels per day next week

Uk Jin

Summary

JPMorgan said it expects the scale of global oil production shut-ins could reach up to 12 million barrels per day.
The head of research at J.P. Morgan Chase said worsening transportation disruptions could rapidly expand global oil supply disruptions.
JPMorgan said it estimates that next week, worldwide oil production shut-ins could climb to as much as 12 million barrels per day.

Global investment bank JPMorgan projected that the scale of oil production shut-ins could reach as much as 12 million barrels per day (bpd).

According to Walter Bloomberg on the 13th (local time), Natasha Kaneva, head of research at J.P. Morgan Chase, said that “as transportation disruptions worsen, global oil supply disruptions could expand rapidly,” adding that “next week, oil production shut-ins worldwide could reach up to 12 million barrels per day.”