EIA Short-Term Energy Outlook Report: Expects Strait of Hormuz to Remain Closed Until End of May, Gradually Resume Navigation in June

Odaily Odaily Planet Daily reported that the EIA Short-Term Energy Outlook report stated that it expects the Strait of Hormuz to remain closed until the end of May, gradually resume navigation in June, and return to pre-conflict levels later in 2026. It forecasts global oil demand at 104.2 million barrels per day in 2026, compared to a previous forecast of 104.6 million barrels per day; and demand at 105.6 million barrels per day in 2027, compared to a previous forecast of 106.2 million barrels per day. (Jin Shi)