Event details
Shell CEO Wael Sawan said the Hormuz disruption has removed more than 10 percent of global oil production and left about 20 percent of LNG offline, according to AFP reporting carried by Channels Television and The Guardian. Reports said the pressure is hitting Asia hardest, with some countries using fuel rationing or shorter work weeks.
Context
The comment turns the energy board from a price-only watch into a supply-duration problem: limited tanker-route recovery does not erase the production and LNG backlog. The watchpoint is whether diplomacy or naval access changes arrive fast enough to prevent rationing and industrial cutbacks from spreading beyond the countries already named in the reports.
- Local time
- 9:59 AM Eastern Time, Jun 10, 2026; Guardian live-blog timestamp for the Shell CEO update from the WSJ summit
- Location
- Wall Street Journal CEO summit / Strait of Hormuz energy markets
- Relationship
- Update