Asia Oil Industry Seeks Trump Exit to End Iran Conflict
The oil industry in Asia has a clear solution to the current crisis caused by the Iran conflict: get U.S. President Donald Trump out of the Gulf region and let regional countries clean up the mess.
This is according to conversations at the APPEC conference in Singapore, where delegates included Middle East oil producers, trading houses, shippers, and refiners.
The industry knows that this outcome is unlikely, as Trump's view on the conflict has 'morphed into a war of egos', making a political agreement difficult.
Delegates at APPEC are now preparing for an extended disruption to supplies from the Middle East, with only 75% of pre-war levels being achieved through the Strait of Hormuz. The global market is down around 5 million barrels per day due to the conflict.