The global oil market has lost an average of 10.6 million barrels per day of crude oil and 5.4 million barrels per day of products due to the ongoing Middle East crisis. Despite this, the market has shown resilience, aided by robust inventories and increased US exports. However, if the Strait of Hormuz remains closed, the world could face a supply deficit of 2.6 million barrels per day this year.
Sign in to access complete coverage, AI analysis, and related companies.
Sign In to Continue