Amid the war in the Middle East, shipping through the Strait of Hormuz – one of the world’s most critical energy chokepoints – has plunged, creating the largest disruption to oil supply in history. How is this shock rippling through oil markets? What are the real-world consequences for oil-consuming countries and industries? And how has it changed the IEA’s forecasts for supply and demand in the months ahead? 

 

In this episode, senior oil market analysts Rebecca Schulz and David Martin discuss these questions and more, drawing on fresh data and analysis from the IEA’s April Oil Market Report.

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