Iran War Nears 50 Days; Global Crude Oil Supply Disrupted by Over 500 Million Barrels
The nearly 50-day Iran war has caused a disruption of over 500 million barrels of crude oil, amounting to a $50 billion loss. Despite signs of a ceasefire, analysts warn full energy infrastructure recovery may take years.
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- 📰 Published: April 18, 2026 at 14:54
- 🔍 Collected: April 18, 2026 at 15:31 (37 min after Published)
- 🤖 AI Analyzed: April 18, 2026 at 21:22 (5h 50m after Collected)
Focus News on US-Iran War
Central News
(Central News Agency, London, 17th, Comprehensive Foreign Dispatch) According to calculations by Reuters and analysts, the conflict that has lasted nearly 50 days since the outbreak of the Iran war has disrupted over 500 million barrels of crude oil supply, resulting in a cumulative loss of $50 billion, and the ripple effects of this crisis are expected to last for months or even years.
Reuters reported that Iranian Foreign Minister Abbas Araghchi stated yesterday that the Strait of Hormuz had been reopened following a ceasefire agreement between Israel and Lebanon; US President Trump claimed he believes an agreement to end the Iran war will be reached "very soon."
According to shipping tracking agency Kpler, since the Iran war erupted in late February, the supply of crude oil and condensate from the Middle East has decreased by over 500 million barrels cumulatively, making it the largest energy supply disruption in modern history.
Iain Mowat, a principal analyst at the energy consulting firm Wood Mackenzie, pointed out that a disruption of over 500 million barrels of crude oil is equivalent to halting global aviation demand for 10 weeks, or global road traffic for 11 days, or the global economy running without oil for 5 days.
Furthermore, this is roughly equivalent to about a month of US oil demand, or more than a month of European oil consumption; calculated based on the US military's annual fuel usage of about 80 million barrels (based on fiscal year 2021), it equals about 6 years of fuel consumption for the US military.
Additionally, this amount of oil is enough to support the operations of the global international shipping industry for about 4 months.
- Sharp Decline in Crude Oil Production
Crude oil production in the Gulf Arab states fell by about 8 million barrels per day in March, roughly equal to the combined production of US oil giants Exxon Mobil and Chevron.
Kpler noted that aviation fuel exports from Saudi Arabia, Qatar, the UAE, Kuwait, Bahrain, and Oman dropped from about 19.6 million barrels in February to a combined 4.1 million barrels in March and April so far. Reuters estimates that these reduced exports are enough to fuel about 20,000 round-trip flights between New York's JFK and London's Heathrow.
Johannes Rauball, a senior crude oil analyst at Kpler, stated that since the outbreak of the conflict, oil prices have averaged around $100 per barrel, and these supply shortfalls mean a revenue loss of about $50 billion. This equates to about 1% of Germany's annual GDP, or roughly the economic size of countries like Latvia and Estonia.
- Full Recovery May Take Years
Although Araghchi stated that the Strait of Hormuz has reopened, the speed of capacity and supply recovery is expected to be very slow.
Kpler data shows that since April, global onshore crude inventories have decreased by about 45 million barrels; since late March, the scale of crude oil production disruption has reached about 12 million barrels per day.
Rauball pointed out that heavier crude oil fields in Kuwait and Iraq may take 4 to 5 months to resume normal operations; and due to damaged refining facilities and affected LNG facilities at Qatar's main energy hub, Ras Laffan Industrial City, a full recovery of the overall regional energy infrastructure could take years.
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Central News
(Central News Agency, London, 17th, Comprehensive Foreign Dispatch) According to calculations by Reuters and analysts, the conflict that has lasted nearly 50 days since the outbreak of the Iran war has disrupted over 500 million barrels of crude oil supply, resulting in a cumulative loss of $50 billion, and the ripple effects of this crisis are expected to last for months or even years.
Reuters reported that Iranian Foreign Minister Abbas Araghchi stated yesterday that the Strait of Hormuz had been reopened following a ceasefire agreement between Israel and Lebanon; US President Trump claimed he believes an agreement to end the Iran war will be reached "very soon."
According to shipping tracking agency Kpler, since the Iran war erupted in late February, the supply of crude oil and condensate from the Middle East has decreased by over 500 million barrels cumulatively, making it the largest energy supply disruption in modern history.
Iain Mowat, a principal analyst at the energy consulting firm Wood Mackenzie, pointed out that a disruption of over 500 million barrels of crude oil is equivalent to halting global aviation demand for 10 weeks, or global road traffic for 11 days, or the global economy running without oil for 5 days.
Furthermore, this is roughly equivalent to about a month of US oil demand, or more than a month of European oil consumption; calculated based on the US military's annual fuel usage of about 80 million barrels (based on fiscal year 2021), it equals about 6 years of fuel consumption for the US military.
Additionally, this amount of oil is enough to support the operations of the global international shipping industry for about 4 months.
- Sharp Decline in Crude Oil Production
Crude oil production in the Gulf Arab states fell by about 8 million barrels per day in March, roughly equal to the combined production of US oil giants Exxon Mobil and Chevron.
Kpler noted that aviation fuel exports from Saudi Arabia, Qatar, the UAE, Kuwait, Bahrain, and Oman dropped from about 19.6 million barrels in February to a combined 4.1 million barrels in March and April so far. Reuters estimates that these reduced exports are enough to fuel about 20,000 round-trip flights between New York's JFK and London's Heathrow.
Johannes Rauball, a senior crude oil analyst at Kpler, stated that since the outbreak of the conflict, oil prices have averaged around $100 per barrel, and these supply shortfalls mean a revenue loss of about $50 billion. This equates to about 1% of Germany's annual GDP, or roughly the economic size of countries like Latvia and Estonia.
- Full Recovery May Take Years
Although Araghchi stated that the Strait of Hormuz has reopened, the speed of capacity and supply recovery is expected to be very slow.
Kpler data shows that since April, global onshore crude inventories have decreased by about 45 million barrels; since late March, the scale of crude oil production disruption has reached about 12 million barrels per day.
Rauball pointed out that heavier crude oil fields in Kuwait and Iraq may take 4 to 5 months to resume normal operations; and due to damaged refining facilities and affected LNG facilities at Qatar's main energy hub, Ras Laffan Industrial City, a full recovery of the overall regional energy infrastructure could take years.
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The text, images, and audio/video of this website may not be reproduced, broadcast, or publicly transmitted and utilized without authorization.