Sahwa@reddthat.com to World News@lemmy.worldEnglish · 2 days agoIran declares Strait of Hormuz completely open to commercial ships during Israel-Lebanon ceasefirewww.cnbc.comexternal-linkmessage-square43linkfedilinkarrow-up1279arrow-down12
arrow-up1277arrow-down1external-linkIran declares Strait of Hormuz completely open to commercial ships during Israel-Lebanon ceasefirewww.cnbc.comSahwa@reddthat.com to World News@lemmy.worldEnglish · 2 days agomessage-square43linkfedilink
minus-squarelimonfiesta@lemmy.worldlinkfedilinkEnglisharrow-up16·1 day agoI mean that’s not even possible. OPEC countries can’t just immediately restart shutdown production sites, and I’m talking about the ones that aren’t damaged. And given that this is simply for the duration of the ceasefire, it is unlikely to result in any production restarts. This will be useful for oil that is already in storage and ready to be loaded into tankers, as well as normal goods and trade i.e. consumables.
I mean that’s not even possible.
OPEC countries can’t just immediately restart shutdown production sites, and I’m talking about the ones that aren’t damaged.
And given that this is simply for the duration of the ceasefire, it is unlikely to result in any production restarts.
This will be useful for oil that is already in storage and ready to be loaded into tankers, as well as normal goods and trade i.e. consumables.