Hormuz closure may trigger oil crisis lasting into 2027: Shell CEO

British oil company Shell CEO Wael Sawan said energy shortages driven by Strait of Hormuz closure are likely to drag on for months and possibly into next year. "Roughly 900 million barrels…haven't been produced in…last couple of months, and that's been replaced essentially by stock drawdown," Sawan said. The strait has been under threat since the beginning of Iran war.