As per the study conducted, as much as 11.8 million barrels per day of oil production remains shut across six Gulf producers, making this the most significant supply disruption seen in modern energy markets. “At this stage, it is too early to say whether the current escalation marks a full resumption of hostilities or a dangerous but still containable episode,” said Jorge Leon, Senior Vice President and Head of Geopolitical Analysis at Rystad Energy. He also stated that uncertainty surrounding the conflict was seen in oil price volatility.
