Shell CEO Says Hormuz Blockade May Mean Energy Shortages Last Into 2027
About 20% of the world's oil and natural gas is unable to pass through the Persian Gulf, forcing countries including Iraq, Kuwait and Qatar to shut down production and pushing customers — particularly in Asia — to compete for supplies elsewhere by bidding up prices.
About 20% of the world's oil and natural gas is unable to pass through the Persian Gulf, forcing countries including Iraq, Kuwait and Qatar to shut down production and pushing customers — particularly in Asia — to compete for supplies elsewhere by bidding up prices.
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