Shell CEO Warns of Prolonged Oil Supply Tightness Due to Hormuz Blockade

Shell CEO Wael Sawan warned that the global oil supply shortage caused by the Hormuz blockade could persist into 2027, leading to continued high gas prices. The company reported a 900 million barrel supply gap, with emergency reserves being depleted. Shell also announced a $13.6 billion acquisition of ARC Resources to secure North American supply.

By Mwangi Enos · TheStreet · April 30, 2026, 01:03 UTC

Tickers: $SHEL

Topics: energy market gas prices Hormuz blockade oil supply Shell acquisition

Read the full article at TheStreet

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