Strait of Hormuz Closure Expected to Last Until Mid-2026, Per Baker Hughes CFO
Baker Hughes CFO Ahmed Moghal stated that the Strait of Hormuz may remain closed until the second half of 2026, citing ongoing geopolitical tensions in the Middle East. The closure has removed about 10% of global oil supply and disrupted 20% of LNG output, leading to persistent risk premiums in the market. The company's Q1 results showed revenue growth and improved EBITDA, though free cash flow declined significantly.
Tickers: $BKR
Topics: Baker Hughes earnings call geopolitical risk oil supply disruption Strait of Hormuz