00:00Supposing a deal is struck and things go back to normality, the straight and foremost reopens,
00:06how long do you expect it to take for prices to normalise and settle at pre-conflict levels?
00:12Well, first of all, I applaud World Reuters for their optimism.
00:15My model is not that optimistic as far as the oil price is concerned.
00:21The other thing is I would say it will take well into 2026 because we have ships in the wrong
00:29place.
00:29We have a lot of fields that had to be shut in.
00:32Some of them can be brought up easily again.
00:35Others, though, you know, are more complex and it's a complex industrial process to restart the field that has been
00:42shut in.
00:44And then we have degraded infrastructure, imports.
00:47We have degraded infrastructure also for LNG.
00:52You know, 17% of Qatar LNG was taken out, plus all the extension.
00:58They tried, they had wanted to extend their capacity by 80% over this next year.
01:05So we are seeing real scarcity.
01:09The CEO of Saudi Aramco said about two weeks back, we are missing a cumulative, we are missing a cumulative
01:16billion barrels.
01:18And that is a lot.
01:20You know, consumption used to be, before this, 104, 105 million barrels a day globally.
01:28So this is really a lot.
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