Gulf Supply Shock Redraws Global Crude Trade as Canada, Asia Adjust, Wood Mackenzie Says
() -- Effective closure of the Strait of Hormuz resulted in forced shut-ins of about 11 million barrels per day of production at the peak of the conflict, forcing major importers to redraw supply chains, Wood Mackenzie said in note on a Thursday. The shut-ins and force majeure reshaped global crude and fuel markets, th