IEA Head says even if the ward ends soon “it will take a long time to have oil and gas rehabilitated. It will be six months for some [sites] to be operational, others much longer”, FT reports
- On previous oil release, pointed out that such releases would not solve the loss of Middle Eastern energy. “The single most important action is the resumption of transits through the Strait of Hormuz,” he said.
Context
The IEA Head's comments signal that even post-conflict recovery in the region will take considerable time, especially for oil and gas operations. This underscores existing supply concerns, particularly regarding Middle Eastern energy, and indicates that any anticipated normalization in oil markets may be delayed, keeping prices and sentiment elevated in the near term.
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