Vitol’s top executive in the Middle East said that many Western governments still aren’t reckoning with the oil supply crunch that’s rippling around the world due to the blockade of the Strait of Hormuz.
“In Europe and I think in the US, everyone is kind of asleep at the wheel and just carrying on life as normal,” Tom Baker, a board member at Vitol, said at S&P Global’s Middle East Petroleum & Gas Conference in London.
