Shell CEO warned of fuel shortage in Europe since April

Europe may face shortages of fuel and energy resources in the coming weeks if the situation around the Strait of Hormuz does not change. This was announced on March 25 by the head of the Shell oil company, Wael Savan.

"South Asia was the first to suffer from this. Then it spread to Southeast Asia, Northeast Asia, and in April, to a greater extent to Europe," he said at a conference on the oil industry in Texas. His words are quoted by The Guardian.

Savan added that the crisis, which has been going on for the fourth week, has already affected the supply of aviation fuel, the price of which has doubled since the beginning of the conflict. Diesel fuel may be next under pressure, followed by gasoline, as the summer car travel season begins in the United States and Europe.

Price pledge: Asian countries are not coping with the fuel crisis

Why are strategic reserves not saving the region, how can Russia influence the situation, and what exceptions Washington is willing to make?

On March 18, Politico reported on growing concern in Europe amid growing global competition for energy resources due to the ongoing near-complete blockade of shipping in the Strait of Hormuz. According to a number of European officials and experts, Brussels' high demands on the volume of reserves contribute to higher prices, while excessive regulation of LNG supplies reduces the competitiveness of the European market for global exporters.

On March 21, the International Energy Agency (IEA) recommended that governments abandon flights whenever possible and switch to using electric stoves instead of gas stoves in order to reserve liquefied natural gas reserves.

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