Anonymousabout 4 hours ago
OPEC has slashed its 2026 global oil demand growth forecast to 1.17 million barrels per day, down from 1.45 million bpd projected in January, as the closure of the Strait of Hormuz following the US-Israel air war on Iran removed up to 14 million barrels per day from global supply. The crisis—characterized by the IEA as the largest supply disruption ever—has pushed WTI crude above $100/barrel, triggered a 400-million-barrel coordinated strategic reserve release, and exposed deep structural vulnerabilities for energy-importing nations across Asia.