Red Sea crisis could lead to global tanker shortage, Kuwait Petroleum CEO says
Publishing timestamp: 2024-03-20 14:13:41
Summary
CEO of Kuwait Petroleum Corporation warns of potential tanker shortage if Red Sea crisis continues for another six months, but maintains that KPC is able to deliver on time. Despite the crisis, he does not see a risk of supply disruption in the Middle East. Other oil industry CEOs express concerns about security in the region and potential conflicts. Oil prices have been affected by uncertainty over China's economy and U.S. crude production, but KPC remains confident in steady demand from China and plans to increase production capacity.
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Keywords: united states, investment strategy, breaking news: markets, kuwait, ryan lance, business news, chevron corp, oil and gas, israel, markets, houston, conocophillips, gaza,