Middle East output plunges 12M boe/day, could drop 70% from pre-war level, Rystad says

5 hours ago

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the charts and quotes on display. US WTI crude oil price analysis. Stunning price drop for the last 20 years.

The Middle East has lost more than 12M boe/day of production since Iran effectively closed the Strait of Hormuz, ~7% of global liquids demand, and the region's output could fall as low as 6M bbl/day in a worst-case scenario, a 70% decline from pre-war levels, Rystad

Source seekingalpha