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Shell CEO Wael Sawan stated that disruptions in oil and LNG supply due to the blockade of the Strait of Hormuz are expected to persist for several months, potentially impacting global energy markets.
Shell CEO Wael Sawan has warned that Europe could face fuel shortages and rationing as early as April due to the deepening crisis in the Middle East, with the Dutch government now debating measures to provide energy bill and fuel price relief to its citizens.
Shell CEO Wael Sawan is featured in a Bloomberg discussion on the future of oil, renewable energy, and the broader energy sector.
The International Energy Agency on Wednesday agreed to release a record 400 million barrels of oil from strategic stockpiles to combat a spike in global crude prices since the start of the US-Israeli war with Iran, with the US contributing the bulk of the supply.
Shell CEO Wael Sawan warns that Europe could face fuel shortages next month, while several Asian countries have declared states of emergency, indicating a broader energy crisis.