Marketplace When will oil markets recover?
Apr 2, 2026
Kristen Schwab, a reporter on restaurant and hospitality business models, and Daniel Ackerman, a reporter on U.S. oil production and the Permian Basin. They discuss how conflict and damage slow oil market recovery and keep gas prices high. They explain why Permian drillers are not quickly offsetting shocks and how hospitality groups scale to manage rising costs.
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Oil Supply Recovery Will Take Months Not Weeks
- Global oil supply won't snap back immediately after military actions end.
- Experts say reopening the Strait of Hormuz, repairing refineries and restarting shut-in production could take months, delaying full recovery through summer and fall.
High Oil Prices May Persist Into 2026
- Physical disruptions and risk premia keep crude prices elevated for an extended period.
- Brew says crude is unlikely to drop below $80 a barrel in 2026 because inventories are drawn down and uncertainty persists.
Inventory Rebuilding Prolongs High Gas Prices
- Rebuilding inventories and moving oil where it's needed extends price pressure.
- Dan Pickering expects Americans to see gas well above $3 per gallon through the rest of the year as stocks are replenished slowly.