Original Source

Jeff Currie, Chief Strategy Officer at Carlyle Energy Pathways, diagnosed that the global energy supply chain disruption caused by the Iran War is sustaining oil price increases and is difficult to resolve with short-term policy responses.

Widespread Supply Chain Disruptions Due to Iran War

Jeff Currie, Chief Strategy Officer at Carlyle Energy Pathways, pointed out that the repercussions of the Iran War are affecting the entire global supply chain, extending beyond oil to include gas, fertilizers, metals, and petrochemical products. He explained that logistics have been thrown into disarray worldwide, with ships out of position and insurance contracts canceled. Furthermore, major oil-producing countries like Saudi Arabia, Iraq, and the UAE are experiencing production disruptions due to decreasing oilfield pressure. Currie projected that it would take several months to repair this damage.

Escalating Oil Prices and Hoarding

Jeff Currie emphasized that there are virtually no policy responses that can stop the current oil price surge. He assessed that measures such as the release of 400 million barrels from the Strategic Petroleum Reserve (SPR) would only have a 'negligible offsetting effect,' as the maximum sustainable daily supply is only 2 million barrels, meaning it would take 200 days to release the entire volume. He explained that this is woefully insufficient compared to the current supply disruption of 18 million barrels per day.

Currie then mentioned that hoarding is intensifying, similar to the 1970s, adding that while China has benefited, other countries like South Korea and Japan are also striving to secure energy. He warned that even ordinary drivers' tendency to keep their fuel tanks constantly full could trigger an additional demand of 2 to 3 million barrels per day.

*Source: YouTube: Bloomberg (2026-03-11)*

Related Articles