LONDON: From Canada to Argentina, oil producers across the Americas have enjoyed a windfall during the Iran warby capturing market share lost by Middle Eastern exporters. The renewed focus on energy security globally could transform this emergency response into a lasting structural change.
Oil production in the Americas has become a viable alternative to the Middle East's vast hydrocarbon resources since the outbreak of the Iran war and the closure of the Strait of Hormuzsix months ago, which disrupted roughly a fifth of global oil supplies. The shift is one of the most striking changes in the global energy landscape in decades.
-copy-29e15046.jpeg?w=600)
