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Shell CEO announces Middle East oil flows have recovered to approximately 80% of pre-conflict levels

Bloomberg +1 ·

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  1. 1Shell Plc CEO Wael Sawan said Middle East oil flows have recovered to 80% of pre-conflict levels.
  2. 2G7 nations announced a plan last week including the release of 100 million barrels of emergency oil reserves.
  3. 3Wael Sawan warned that a prolonged conflict could make it more difficult for the market to manage supply disruptions.

So what's the key point?

The amount of oil moving through the Middle East has returned to 80% of what it was before the conflict. This means that if the conflict continues for a long time, it could become harder to manage the supply of oil.

Source Bloomberg +1 · View original ↗

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