75 Days
Source:
الاقتصادية
Iran's 14M barrel daily loss sparks major oil shock
The current Iranian war has caused the biggest immediate oil shock in history, leading to daily losses exceeding 14 million barrels, which is about 13.6% of global oil demand. The shock also includes disruptions to liquefied natural gas supplies, refined fuels, and chemical fertilizers. Although the 1979 crisis resulted in greater cumulative losses over time, the current crisis has frozen exports estimated at around 1.5 billion barrels and led to the closure of roughly one-fifth of the world's liquefied natural gas production. The International Energy Agency responded by releasing record-high reserves to help stabilize markets, but the impacts of the crisis may persist and be extended over several months or even years.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)