Nomura: Full U.S. Blockade Could Cut Off Another 2.3 Million Bpd Oil Supply

Oil supply from the Middle East could drop by another 2.3 million barrels per day (bpd) if the U.S. were to completely block the Strait of Hormuz, according to bank Nomura. "We estimate around 2.3mbpd loss of incremental oil supplies versus March 2026, and nearly 9.3mbpd loss versus March 2025 in the event the US were to completely block the SoH," analysts at Nomura wrote in a research note carried by Business Standard. "A complete blockade of the SoH may also impact LPG supplies for India, as o...