finance
Shell CEO: Conflict Has Removed 12% of Global Crude Supply
Shell CEO Wael Sawan appeared on CNBC's 'Money Movers' to discuss the company's latest earnings results and the impact of the US-Iran war on global energy supplies. He highlighted that 12 percent of the world's crude has been taken off the market and noted the differential effects on LNG versus broader natural gas supplies.
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Shell CEO Wael Sawan told CNBC that the current conflict has taken 12% of the world's crude off the market. "You're seeing the hard reality of taking 12% of the world's crude off the market," Sawan said in the May 7, 2026 interview.
Sawan added that while 20% of the world's LNG is impacted by the US-Iran war, "that equals to only 3% of the world's natural gas." The executive made the comments during an appearance on CNBC's 'Money Movers' to discuss the company's latest earnings results.
The interview occurred three hours before additional commentary from other financial figures on related market pressures. Sawan's remarks addressed Shell's position in the current supply environment amid ongoing tensions.
Market participants continue to weigh the precise effects on both oil and liquefied natural gas flows.
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CorroborationLimited · 2 sources
