Crisis in Hormuz? This is the country that earned billions of dollars from oil this month
The crisis in the Strait of Hormuz has not yet been resolved, and the global energy market continues to record sharp price increases. But while most of the world suffers from the high cost, there…
Assessment
The ongoing crisis in the Strait of Hormuz has driven global oil prices sharply higher, creating winners and losers. One Arab country far from the strait has posted massive oil revenues in the past month, producing at a rate 16 times that of Kuwait. The key question is whether this windfall will shift regional energy dynamics or provoke diplomatic friction.