EU warns members of urgent energy price crisis before winter season - chinadailyasia.com
EU warns members of urgent energy price crisis before winter season - chinadailyasia.com
Source: chinadailyasia.com
―
DW NOTE
The EU is issuing energy warnings with the Strait of Hormuz closed and global oil supply falling 5.7 million barrels per day this year. What's urgent is that Europe spent two years after 2022 claiming it had diversified away from risky supply — and is now discovering that when 17 million barrels per day of Gulf exports stop moving, diversification means everyone bidding for the same scarce cargoes.