London/Hong Kong —
The International Monetary Fund says the world will suffer an oil shortfall this year – even if the war with Iran were resolved this week – becoming the latest major economic body to warn of severe likely and potential impacts of the conflict.
“If everything were to stop tonight and, starting tomorrow, we move towards reopening the Strait (of Hormuz)… we would still be looking at an oil shortfall for the year,” IMF chief economist Pierre-Olivier Gourinchas told CNN in an interview on Quest Means Business Tuesday.
Global oil supply plummeted by 10.1