View / Hormuz limbo is now global oil’s top risk
Lost supply and a projected demand rebound have placed the oil market in a fragile equilibrium.
Senior Fellow and Head of Corporate Partnership Strategy
Given the historic deterioration of Venezuela's economy, post-earthquake recovery will be especially costly, complex, and urgent.
Global oil demand is set to decline this year for the first time since 2020. The International Energy Agency expects a drop of about 1 million barrels per day by 2026.
The Center on Global Energy Policy is providing live updates on key developments related to the Iran crisis. Check back here for the latest.
Already, some shipping companies have made it clear that they will wait until the deal is formalized on Friday before attempting to cross the Strait. Even for
Oil and gas flows through the Strait of Hormuz may take months to recover even if the U.S.-Iran deal is finalized.