We Are Facing A Major Problem In The Energy Market
Current Energy Crisis Is The Biggest One In History
Combined Oil & Gas Supplies Lost In The Last 3 Energy Crisis Less Than What Is Lost In The West Asia Crisis
When We Entered The Crisis, Had Oil Surplus In The Markets Pushing Prices Lower
After The West Asia Crisis, Have Been Using Oil & Gas Surplus, Inventories
Oil & Gas Inventories Have Been Diminishing
Will Enter The Red Zone For Global Economy, Especially Asia, If Hormuz Closure Persists
There Should Be No Question Of Tolls On The Strait Of Hormuz
If We Don’t See Unconditional Opening Of Hormuz By End Of June We Will Be In Red Zone
Important To Give Mkts Confidence That Tankers Can Transit Through The Hormuz Strait Safely
Most Experts Feel If Hormuz Strait Can Be Closed Once, It Can Be Closed Again
400 Million Barrel Emergency Release Was IEA’s Largest Ever
400 Million Barrels Of Oil Is Just 20% Of IEA Reserves
If Necessary & Required By Markets, Might Release Further Emergency Reserves
Will Act Swiftly To Release Emergency Reserves
As We Speak, We Are Not At A Stage That Requires The Release Of More Reserves
Don’t Feel Need To Release Next Tranche Of Strategic Reserves Yet, Actively Monitoring Situation
In Some Countries Restoration Of Supplies Will Be Easier
Saudi Arabia & Emirates Can Move Fast, But I’m Worried About Iraq
Will Be Naive To Think Everything Will Go Back To The Way It Was If Hormuz Strait Opens
Energy Markets Will Continue To Be Volatile Even Post Reopening Of Strait Of Hormuz
‘Naïve’ To Expect Qatar LNG Terminals Will Come Back Soon
Oil Markets Will Continue To Be Rocky & Volatile Even After The War Ends
Oil Is Going To Push Inflation Up In Many Countries
Oil Prices Are Already 30% Higher Than Before The War
May Even See Higher Prices Than Today If Hormuz Doesn’t Reopen Soon
Oil Prices Are Likely To Stay At These Levels
Don’t Have The Luxury Of Having Tensions Between Producing And Consuming Countries