Research and consulting firm Wood Mackenzie said on Tuesday that the war in Iran is currently leading to a reduction in oil and petroleum product supplies from the Gulf by about 15 million barrels per day, which could push crude oil prices to $150 per barrel. The company added: "In our view, achieving balance in the market requires a reduction in oil demand to 105 million barrels per day, and we believe this will require Brent prices to rise to at least $150 per barrel in the coming weeks." The company also stated that Gulf countries collectively produce 20 million barrels of liquids per day, and that the market has been deprived of 15 million barrels per day of exports.
