Report: Global energy supply and demand normalization will take more than half a year

Even if the US and Iran reach an agreement on the Strait of Hormuz, it will still take 6 to 12 months to restart the oil and gas supply chain. The president of S&P Global Energy stated that even in the best-case scenario, oil prices will remain high for at least half a year. Experts point out that geopolitical conflicts have led to production interruptions and that facility repairs require time. In addition, the current crisis has changed the discourse on energy security, which may accelerate investments in renewable energy and the transformation on the demand side. China will play an important role in this process.