8 Days
Source:
المشهد العربي
Dallas Fed: Hormuz Closure Affects Global Oil
The President of the Dallas Federal Reserve Bank warned that the ongoing closure of the Strait of Hormuz due to military operations in the Middle East could force the world to depend on alternative sources of oil and gas. She emphasized that this would lead to a sharp decline in global energy consumption. She also pointed out that the resilience in transitioning to alternative energy sources will determine the extent of the economic impact, with expectations of modest growth in U.S. oil production by about 250,000 barrels per day this year and 500,000 barrels next year.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)