2026.05.14 Forecasted demand for oil is expected to drop for the first time since the pandemic owing to what the International Energy Agency calls “the most severe oil supply shock in history.” On April 23, Faith Birol, secretary general of the IEA, told CNBC that the war in the Middle East and the closure of the Strait of Hormuz have created the largest energy security threat the world has ever faced. “As of today, we’ve lost 13 million barrels…
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