Key facts
- Rosneft CEO Igor Sechin stated U.S. companies benefit from Hormuz closure.
- Sechin suggested Washington seeks to reshape global energy markets.
- He warned prolonged tensions would undermine long-term oil demand.
- Sechin predicted prices could fall to $80-$85 if the Strait opens.
Rosneft CEO Igor Sechin asserts that U.S. energy companies stand to gain from any closure of the Strait of Hormuz. Sechin suggests this potential benefit is part of a broader strategy by Washington to reshape global energy markets. He issued a warning that prolonged geopolitical tensions in the region would ultimately undermine long-term oil demand. Sechin further predicted that if the Strait of Hormuz were to reopen, oil prices could fall significantly, potentially reaching $80 to $85 per barrel. This forecast implies that current market conditions, possibly influenced by the threat of closure, are supporting higher prices, and that a resolution would lead to a price correction. The statements highlight concerns about the manipulation of energy markets and the potential economic consequences of regional instability.