Rosneft Chief on US Energy Gains from Strait Closure
The CEO of Rosneft, Igor Sechin, stated that closing the Strait of Hormuz aims to reshape the energy market in favor of the United States. This closure has had a negative impact on the world, while American companies have benefited, potentially making profits exceeding $60 billion this year. He warned that ongoing tension in the strait could threaten other routes such as Málaga and the Bab el-Mandeb, and that it could weaken long-term oil demand. He also predicted that oil prices could reach $95 per barrel by the end of 2026 if the strait is reopened immediately.
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