油价的“巨大不确定性”:全球15%的石油供应遭制裁,14亿桶原油“飘在海上”

华尔街见闻
Dec 11, 2025

全球海上原油库存正在形成规模空前的过剩,但石油市场却对这一供应激增反应迟缓,核心问题在于投资者难以判断被制裁的俄罗斯和伊朗原油是否仍应计入有效供应。 据石油分析公司Vortexa数据,目前有14亿桶原油"飘在海上",较2016年至2024年同期平均水平高出24%。这些原油要幺正在运往卸货港的途中,要么尚未找到买家。 据Kpler数据,全球15%的石油供应目前处于制裁之下。由于传统买家如印度对采购持...

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