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2026-06-05 16:12
OECD warns of global recession if war against Iran disrupts oil route until 2027
TEHRAN- A new report from the Organization for Economic Cooperation and Development (OECD) paints a grim picture of the world economy if the ongoing conflict in West Asia escalates and leads to a prolonged shutdown of the Strait of Hormuz.
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2026-05-11 14:20
Loss of 1b barrels due to Iran war will slow oil market recovery, Aramco CEO warns
TEHRAN- The global oil market faces a prolonged recovery following the loss of approximately one billion barrels of crude over the past two months, the CEO of Saudi Aramco has warned. Even if key shipping routes are reopened, energy markets will take time to stabilize, according to a Reuters report published on Sunday.