Part 9/17:
He predicts that, once trust is restored, oil prices could fall back to the $60-$65 range, potentially lowering crude prices significantly. The negotiations are complicated by strategic moves such as Saudi Arabia’s efforts to diversify pipeline routes—like building pipelines that bypass the Strait—and the possibility of new infrastructure projects, such as a NATO-initiated canal, which could alter global shipping dynamics.
The dialogue underscores the importance of control over oil transit routes, as their stability influences crude prices worldwide. Furthermore, the potential re-integration of Iranian and Venezuelan oil into the global market could lead to an oversupply situation, driving prices lower and affecting economies dependent on oil exports.