Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented to the Expert magazine on the Iranian crisis impact on global oil and gas markets.
According to Alexey Belogoryev, the economic benefits for Russia from the Middle East conflict may manifest themselves over a longer time horizon. The analyst stressed that the reliability of the Middle East as a collective supplier of energy resources could "be seriously shaken" if military operations could not be stopped in the next few weeks. Russia can get the main benefit in the oil market, especially with supplies to China, but it will be more difficult to do this in the LNG market due to the shortage of an available fleet of gas carriers, he added.
According to Alexey Belogoryev, the largest importers will be able to survive the short-term shock in terms of oil supply on the accumulated reserves.
"In 2025, as if anticipating war, China accumulated huge strategic and commercial oil reserves. According to some estimates, they may be enough to cover 100-120 days of net exports. OECD countries, India, and Brazil also have large reserves," the analyst concluded.
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