NEW YORK CITY, NY / ACCESS Newswire / April 21, 2026 / Genoil Inc. (OTC PINK:GNOLF) The recently published IEA report titled "Oil Market Report dated April 14, 2026" highlights the catastrophic reality of a global supply shock, categorizing the ongoing restrictions through the Strait of Hormuz and attacks on Middle East energy infrastructure as the largest disruption in history. According to the report, global oil supply plummeted by 10.1 million barrels per day in March alone, and global observed oil inventories fell by a staggering 85 million barrels. The report emphasizes that refineries across Asia and the Middle East, starved of feedstock, have been forced to cut runs by roughly 6 million barrels per day, creating severe shortages in global product markets, particularly for middle distillates like jet fuel and diesel.
Global oil inventories are seeing a continued 15-million-barrel draw-down every day. Panic is expected to strike Asia within 30 days as commercial stockpiles tap out. This crisis presents an existential threat to the global financial system. According to Goldman Sachs derivative experts, the loss of 20% of the world's oil supply at the Strait of Hormuz could eventually drive prices to $700 per barrel. Genoil's upstream solution and advanced refining technology directly addresses the exact shortfalls outlined in the IEA report. Because Genoil's upgrading process yields 40% more transportation fuel from each barrel of crude oil produced, it effectively bridges the gap left by the 6 million barrels per day of halted refining capacity.
"We are going to see a catastrophe arrive as the daily missing oil production of 20 million barrels a day hits the market," explained Genoil CEO David K. Lifschultz. "It just so happens that Genoil's process increases the production of each barrel of oil 66% by converting the residue of 40% in WTI and Brent oil can solve this problem within thirty to sixty days. We would enable refineries to achieve this enhanced return without needing to invest any money downstream".
The severity of the crisis is now dominating global headlines, as physical oil prices have surged past $250 per barrel. CNN has highlighted how the crisis has caused domestic gas prices to jump 23% and diesel prices to surge, warning that airports worldwide may run out of jet fuel in the coming days, forcing planes to be grounded. Fox News has extensively covered the global energy supply shock, noting that the resulting spike in jet fuel costs is heavily pressuring the airline industry to raise fees and cut routes. Meanwhile, Reuters and other mainstream media have suddenly discovered that the oil futures market is severely mispricing near-term oil delivery, trading between $30 and $50 below the actual physical crude market price and signaling a highly distorted market.
A $300 price shock threatens to trigger a chain reaction that would collapse the $2.3 quadrillion global derivative market, drawing comparisons to the 1930 Kreditansalt collapse. Legendary investor Warren Buffett has frequently warned that such derivatives act as "financial weapons of mass destruction" during times of severe market stress. Analysts warn that this failure in futures pricing may soon highlight similar underpricing in the highly distorted physical gold and silver cash markets.
To combat this dire global energy emergency, Genoil Inc. offers its Upstream Upgrading Syncrude Production capability as a rapid and highly effective technological solution that can offset the loss of 20% of the world's oil production. Genoil can enhance the usability of each barrel of crude oil by over 40%, thereby eliminating any dependency on the Middle East region for the entire world. Genoil's solution can be rapidly implemented within 30 to 60 days if Western governments stand behind the company to support an immediate rollout under emergency frameworks.
Our syncrude is compatible with every refinery in the world, making it the only crude that has universal refining compatibility. Genoil achieves universal refining compatibility because our special Genoil crude, which is a syncrude, doesn't need secondary refining equipment to process it. This 40% yield enhancement means we yield 40% more transportation fuel from each barrel of crude oil produced. With governments organizing industry behind the Genoil solution, we can roll out our projects much faster than industry normal standard construction times.
Forward-Looking Statements
This release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially due to market, regulatory, operational, financing, and geopolitical factors. Investors should review Genoil's SEC filings for a full discussion of risk factors.
Contact Investor Relations Genoil Inc.
David K. Lifschultz, CEO
(212) 688-8868
SOURCE: Genoil Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/oil-gas-and-energy/genoil-inc.-offers-30-60-day-upstream-solution-to-combat-hormuz-crisis-as-physic-1159314
