World Business Report Can Gulf countries export oil before storage runs out?
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Mar 5, 2026 Cornelia Meyer, economist and energy consultant with BP experience, explains pipelines, export routes and storage limits. Emma Wall, chief investment strategist, analyzes market moves, oil price upswing and investor reactions. They discuss Strait of Hormuz shipping risks, looming storage-driven output cuts and immediate versus longer-term price impacts.
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Strait Of Hormuz Disruption Could Halt Millions Of Barrels
- Gulf oil exports face imminent physical constraints as travel through the Strait of Hormuz is virtually halted and producers cannot move barrels to market.
- JP Morgan warns Iraq and Kuwait could stop shipping within days cutting about 3.3 million barrels per day, and Cornelia Meyer notes stored crude is filling fast with shutdowns already starting in Iraq.
Oil Spike To $84 Fuels Market Volatility
- Brent crude rose to about $84 a barrel amid the crisis, a sharp jump from around $58 at end of 2025, returning prices to 2024 levels.
- Emma Wall links the oil spike to market volatility, higher bond yields and expectations of prolonged higher interest rates.
Pipelines Provide Partial Relief For Saudi And UAE
- Some Gulf producers have pipeline alternatives reducing but not eliminating Hormuz dependence, letting Saudi and the UAE divert roughly half their output away from the Strait.
- Cornelia Meyer highlights Saudi's east‑to‑west pipeline and UAE shipments via Gulf of Oman as partial relief, but says half the region's production still needs the Strait.