[Goldman Sachs Warning: Global Crude Oil Inventories Approaching 8-Year Lows] According to a report by Jinse Finance, on May 5, as conflicts in the Middle East persist and the Strait of Hormuz remains blocked, Goldman Sachs stated that global crude oil inventories are nearing their lowest levels in eight years, warning that the pace of inventory depletion is becoming a concerning issue. Goldman Sachs estimates that current global crude oil inventories are equivalent to 101 days of global demand and may drop to 98 days by the end of May. Although global total inventories are unlikely to fall to minimum operational levels this summer, the rate of inventory depletion and supply losses in certain regions and products are worrisome. The bank estimates that global commercial refined oil inventories have dropped from 50 days of demand (DoD) before the U.S. and Israel's conflict with Iran to the current 45 days of demand and noted that easily accessible refined oil buffer inventories are rapidly approaching critically low levels. (Dongxin News Agency)