Environment and Energy

Oil Producers Warn of Declining Reserves as Hormuz Shutdown Continues

As U.S. and Iranian forces exchange limited fire in the Strait of Hormuz, oil producers warn that physical supplies may show strain by summer's end. ADNOC CEO Sultan al-Jaber told Al Arabiya that global oil prices could resume upward movement as early as August if demand increases and the crisis persists. Full oil flows through Hormuz are not expected until early 2027, locking in elevated pricing for the remainder of the year.