The Oil Shock Lesson: Why Energy Diversification Is Back On The Global Agenda

By on    BUSINESS  

The Oil Shock Lesson: Why Energy Diversification Is Back On The Global Agenda

Energy crises have repeatedly reshaped the global economy, and the latest geopolitical tensions in the Gulf have revived concerns about the fragility of oil supply chains. Nearly one-fifth of the world’s oil consumption passes through the Strait of Hormuz, a narrow maritime corridor connecting the Persian Gulf with international markets. Any disruption to shipping through […]

IEA Release of Emergency Reserves to Ease Oil Flow in 120 Days, Impact Seen in India Already

By on    BUSINESS  

IEA Release of Emergency Reserves to Ease Oil Flow in 120 Days, Impact Seen in India Already

The International Energy Agency’s 32 member countries have unanimously agreed to release 400 million barrels of oil from emergency reserves, the largest such action in the agency’s history, following the US-Israel war on Iran that resulted in the latter choking Strait of Hormuz shipment flows to less than 10% of pre-conflict levels. Under the IEA […]