Shortage Severity
Country Status
Global Context
⚔️ Iran-US Conflict Impact
Military operations in the Strait of Hormuz have disrupted approximately 20% of global oil transit. Tanker insurance premiums have surged 400%, with many shippers avoiding the Persian Gulf entirely.
Updated Mar 23, 2026🛢️ OPEC+ Response
Emergency OPEC+ meeting scheduled for March 25. Saudi Arabia and UAE signaled willingness to increase production, but logistical bottlenecks limit short-term relief. Current spare capacity estimated at 3.5 mb/d.
Updated Mar 22, 2026🚢 Supply Chain
Rerouting via Cape of Good Hope adds 10-15 days to Asia-bound shipments. Singapore refining margins at 5-year highs. Regional fuel reserves: Cambodia 20 days, Vietnam 22 days, Thailand 60 days.
Updated Mar 23, 2026📊 Price Trajectory
Brent surged from $71/bbl (Feb 27) to $94/bbl (Mar 9). Analysts project $100-120/bbl if conflict extends beyond Q1. IEA coordinated strategic reserve release of 60 million barrels on Mar 15.
Updated Mar 23, 2026Latest Updates
Data Sources & Methodology
Data compiled from IEA Oil Market Reports, EIA Short-Term Energy Outlook, GlobalPetrolPrices.com, ASEAN Energy Centre, national petroleum authorities, and verified news reports. Shortage severity assessed using fuel reserve levels, price deviation from 90-day average, reported station outages, and government rationing measures.