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

Odaily News, the EIA Short-Term Energy Outlook report indicates that the Strait of Hormuz is expected to remain closed until the end of May, with a gradual resumption of navigation in June, and returning to pre-conflict levels later in 2026. Global oil demand is forecasted at 104.2 million barrels per day in 2026, compared to a previous forecast of 104.6 million barrels per day; demand in 2027 is projected at 105.6 million barrels per day, compared to a previous forecast of 106.2 million barrels per day. (Jin Shi)