Oil supply disruption draws 500 million barrels from global stockpiles
Updated
Updated · Bloomberg · Apr 25
Oil supply disruption draws 500 million barrels from global stockpiles
8 articles · Updated · Bloomberg · Apr 25
About 15 million barrels per day are currently bottled up in the Strait of Hormuz, representing 15% of global demand.
Goldman Sachs estimates global stockpile drawdowns could reach one billion barrels by June if the disruption continues.
The ongoing supply bottleneck in the Strait of Hormuz is forcing reliance on reserves, raising concerns about long-term market stability and potential further strain on global oil inventories.
With strategic reserves dwindling, how long until the world's emergency oil supply runs dry?
Beyond oil, is the Hormuz crisis triggering a global food and manufacturing meltdown?
Can new pipelines and sea routes truly replace the world's most critical oil chokepoint?
As Hormuz closes, which nations stand to win or lose in the new global energy map?
Could the Hormuz conflict be the unexpected catalyst for a global green energy revolution?
With allies on the sidelines, is the US facing the Iran crisis completely alone?
Global Oil Supply Plunges 13 mb/d as Strait of Hormuz Shuts Down in Historic 2026 Crisis
Overview
In early 2026, coordinated US and Israeli attacks on Iran triggered Iran's retaliation by effectively closing the Strait of Hormuz through attacks on vessels and critical infrastructure. This caused a collapse in shipments and forced Gulf states to shut down production, leading to a global oil export loss of 13 million barrels per day. The supply shock drove oil prices to nearly $150 per barrel, sparking demand destruction and widespread economic strain. Despite emergency reserve releases and alternative routes, recovery remained slow. A mid-April ceasefire reopened the Strait, easing prices, but damaged infrastructure and depleted reserves continue to limit supply, while the crisis accelerated shifts toward renewable energy and strategic diversification.