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Wood Mackenzie Warns Hormuz Closure Could Spark Decades-Worst Energy Crisis

2026-05-21 14:26:09

Wood Mackenzie said a prolonged closure of the Strait of Hormuz could create the worst global energy market threat in decades, with Gulf crude oil and condensate production already down by more than 11 million barrels a day. The firm said more than 80 million tons of annual liquefied natural gas supply, about 20% of global supply, remains unable to reach global markets, and it modeled Fast Peace, Summer Reconciliation, and Prolonged Disruption scenarios.

NG-1.26%

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