Saudi Arabia, UAE, Kuwait, and Iraq cut oil by 6,700,000 barrels per day, 33% of total production

That’ll be good for business

While US shell and Venezuelas sour are thicker - they do provide for added by-products after refining, however the most damning difference is the cost of refining and extracting these thicker oil types. US shell have for decades ruined drinking water of millions of communities due to the fracking methods used and the requirements to dig deeper and impact water tables further down.

Most shallow US shell have already been extracted decades ago, what is left is oil in deep tables underground - not informed about Venezuelan extracting methods.

Sweet, light crude, which is abundant in west asia, often found mere meters underground - this is different from off-shore, which is more complicated. This sweet, light crude is often found in desert areas and often can be extracted at the fraction of other oils - it is estimated that sweet, light crude in west asia can be extracted for as little as 5-9$ per barrel, refining is much cheaper and its desirable for gasoline production.

So far, only storage and refining installations have been target, not the actual extracting installations, if the installations were to be destroyed, it would take years to re-build and have negative impact on all economies world wide due to lack of replacement.

My hypothesis of what made Venezuela and Iran target of the empire of death and destruction aka big satan, its not their proven oil reserves or oil production, but the fact that they settled their oil sales outside the ponzy USD dollar system - which ironically is due to sanctions imposed by big satan - talk about incoherent strategy!

Although west asian oil only account for around 20-30% of consumed oil, it is the far cheapest oil to extract world wide - you might think that oil is settled based on international market price - actually its not, buyers of said oil often make deals and long term contracts outside international market price - you have 100s of middle men relying on this cheap oil, were they refine and re-sell to other markets world wide, these refineries depends on west asian oil to exist.

Iran have around 100 mb stored off-shore in tankers outside its border areas, often hidden in complex shell company structure
Russia have 140 mb stored off-shore as well, close to potential markets
It is reported other west asian oil producers such as saudi, Iraq and Abu-Dhabi also prepared themselves before this illegal, barbaric terroristic war and did the same, however the numbers are unknown.

don't put your ear somewhere else .just destroy the Iran. everything will be okay. russia is trying to manipulate cause arabs have not that much of braveness

....
Unofficially, Ships are passing through the strait of Hormuz...
Massaged ships transponders....

Brilliant move! Now Russia should get finally offended by EU and stop its oil/gas supply. After that Greta Tumberg will get green of envying Trump - The Greatest World Decarbonizatior Ever.

uae using this "special military operation excuse to raise oil price