Oil production drops spark delay concerns

The article discusses the impact of the war on the oil market, where the world lost over 1.15 billion barrels of supplies during the conflict, leading to a significant decrease in global inventories. Strategic oil reserves have fallen to their lowest levels since 1990. Following the reopening of the Strait of Hormuz, it is expected to take months to restore normal oil flows, which threatens to drive oil prices upward again, despite recent declines from their pre-war peak. The market still relies heavily on reserves and faces substantial logistical challenges in returning to previous supply levels.

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