Oil Majors Reap $93 Billion Windfall From the Iran War
Oil Majors Reap $93 Billion Windfall From the Iran War
Source: Oilprice.com
―
DW NOTE
The Strait of Hormuz has been closed for six months, global oil supply is down 4.3 million barrels per day, and crude prices have fallen 27%. Either the majors made $93 billion from volumes they don't control, or Oilprice.com thinks a supply shock means windfalls for the suppliers who can't supply.