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Iran conflict’s hidden oil issues
The article discusses how the ongoing war in the Middle East has disrupted the global oil supply and demand balance. Despite a temporary reopening of the Strait of Hormuz, oil sales remain sluggish, with heavy discounts needed to find buyers, and Iran struggling to sell its oil outside China. Global oil demand has declined by about 4 million barrels per day, largely due to refinery limitations and changing consumption patterns, especially in China, which has relied on stockpiles instead of imports. Uncertainty remains about when demand will fully recover, as geopolitical tensions continue to influence prices and market confidence.
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