Shell CEO Wael Sawan warned that ongoing disruptions in the Strait of Hormuz are intensifying the global energy crisis.
Supply shortages could impact Europe as early as April 2026 if current conditions persist. Asian markets are already experiencing the effects of these disruptions.
The world faces a potential loss of up to 20 million barrels of oil per day from Middle Eastern producers. This volume represents approximately one-fifth of the total global supply.
Sawan urged governments to prepare by managing demand and utilizing strategic storage. He emphasized that the energy sector must shift from a reactive mode toward long-term resilience strategies.