Global Energy Losses Mount as Strait of Hormuz Disruptions Deepen Crisis
Military actions involving the United States, Israel, and Iran have triggered a significant slowdown across multiple sectors in Gulf economies. Key areas affected include energy production, infrastructure, trade routes, logistics, finance, and tourism.
One expert noted that the situation represents one of the most severe oil supply disruptions in modern history. Shipments passing through the Strait of Hormuz—from major exporters such as Iran, Iraq, Kuwait, Saudi Arabia, the United Arab Emirates, and Bahrain—have dropped significantly, falling from 12.3 million barrels per day to 7.8 million.
During the first four weeks of the conflict, oil-related revenue losses alone reached approximately $15.3 billion, highlighting the scale of the economic damage. When factoring in destruction to energy infrastructure and interruptions to liquefied natural gas exports, overall losses could exceed $50 billion.
While countries around the world have taken steps to reduce the economic fallout, the most affected parties include Gulf exporters, Asian importers of oil and LNG, tanker shipping operations, and nations reliant on trade routes passing through the Strait of Hormuz.
"Following the crisis, Central Asian oil, Eastern Mediterranean gas, oil production in Africa, and US LNG exports have gained importance. In other words, the global energy system is becoming more fragmented and multi-centered," he explained.
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