Major Oil Executive Warns of Prolonged Global Oil Supply Disruption
A major oil executive from Shell has warned that the global oil supply disruption caused by the closure of the Strait of Hormuz could last into 2027. The disruption has led to a 900 million barrel supply shortfall, with global oil inventories draining at a record pace. This situation is expected to keep oil prices high, benefiting oil industry profits.
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Topics: geopolitical_conflict global_markets oil_prices oil_supply_disruption