Reuters: The world has lost $50 billion in oil since the beginning of the war

The world has lost more than $50 billion worth of crude oil whose production has been halted since the start of the Iranian war about 50 days ago, which is considered one of the largest disruptions that global energy markets have witnessed in modern history, according to Reuters.

Since the conflict erupted in late February, more than 500 million barrels of crude oil and condensate have been cut off from global supplies, tightening markets and exacerbating concerns about energy security.

The scale of the disruption is significant, with analysts warning that its repercussions may last for months, if not years, given that the damaged infrastructure and halted production require time to recover.

Production outages peaked at around 12 million barrels per day during the height of the crisis, while global inventories were already affected, reflecting pressure on supply chains, according to Reuters.

Although there are early signs of de-escalation, including a ceasefire agreement and the reopening of the Strait of Hormuz, full recovery remains elusive.

The conflict has disrupted oil flows across key production regions, including parts of the Arabian Gulf, and caused fluctuations in global prices, enhancing the fragility of energy markets amid geopolitical tensions.

Experts warn that some damaged oil fields and refining infrastructure could take months or even years to return to normal operations, keeping supplies tight and markets on edge in the near term.

The choppy situation in the Strait of Hormuz, through which much of global oil trade passes, has kept markets on edge and heightened concerns about supplies.