The 11 million barrels per day is gone just like that; this number is enough to make anyone nervous.

CryptoWorld News reports that Wood Mackenzie warns in its latest report that a long-term closure of the Strait of Hormuz would pose the greatest threat to the global energy market in decades. Currently, daily crude oil and condensate production in the Gulf region has decreased by over 11 million barrels, while more than 80 million tons of liquefied natural gas supply (about 20% of the global supply) still cannot enter the global market. The organization has proposed three different scenarios: rapid peace, summer reconciliation, and long-term disruption, assessing the impact on oil and natural gas supply, prices, energy demand, and the global economy. The company's chief economist, Peter Martin, stated, "The Strait of Hormuz is the most critical chokepoint in the global energy market. If this strait remains closed for an extended period, its impact will be far more than just an energy crisis."