Shell CEO Warns Oil Market Faces a Growing Shortfall
According to Shell's CEO Wael Sawan, the global oil market is facing an approximate 1-billion-barrel supply shortage due to disruptions from the war with Iran and the closure of the Strait of Hormuz. The situation is expected to worsen before improving, potentially keeping oil prices high for the remainder of the year.
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Topics: global_oil_supplies iran_war_impact strait_of_hormuz_closure