Energy

Hormuz crisis hides a deeper oil threat that could outlast the war - Fox News

Source: Fox News

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DW NOTE

The 4.3 million barrel-per-day supply loss from Hormuz is acute. The deeper threat is that replacement capacity — Saudi spare production, U.S. shale response time, strategic reserve drawdowns already spent — was gutted during the decade oil traded below break-even for new projects. When the strait reopens, the industry that's supposed to refill the gap will still be running at the capital starvation levels of 2020-2024.

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Gulf Producers Find Workarounds As Hormuz Tensions Persist

Kuwait’s crude oil exports have rebounded to about 1 million barrels per day (bpd), recovering to two-thirds of the 1.6 million bpd shipped through the Strait of Hormuz before the Iran war, according to a senior official at state-owned Kuwait Petroleum Corporation (KPC). Kuwait has managed to ramp u

Hormuz crisis hides a deeper oil threat that could outlast the war - Fox News

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