Total reports 2 million bpd of crude oil supply to be off market

Based on the latest update from the oil industry, the markets have lost 2 million barrels per day (bpd) of crude oil this year owning to geopolitical issues. The news was confirmed by a senior executive from the French Oil and Energy group Total.

U.S. sanctions on Iran and Venezuela along with supply disruptions in Libya and Saudi Arabia are attributed to be the crucial geopolitical reasons for the loss of the crude oil supply by Tho....