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Vulnerable Nations Boost Oil and Gas Reserves After Iran War Shock, Potentially Adding 500 Million Barrels of Demand
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Vulnerable Nations Boost Oil and Gas Reserves After Iran War Shock, Potentially Adding 500 Million Barrels of Demand

Nations heavily impacted by the economic fallout of the Iran war and Strait of Hormuz closure are accelerating efforts to build strategic oil and gas storage, a global push that could generate demand for around half a billion additional barrels. The move follows lessons from the IEA's record reserve release and China's ability to reduce imports during the crisis, aiming to prevent severe economic distress in import-dependent economies.

E
Economic Times