"Confidence-building measures in coming days are going to be key to restoring shipments. Insurance for the tankers will need to be reestablished, and that means figuring out the specific conditions Iran may impose, which remain murky right now."
"Restarting shuttered facilities and shut-in fields could take weeks to months. So don't get too excited when you see gas pump prices edge down - it doesn't mean everything's back to normal."
"Restarting production is a minor engineering feat and of itself. Multiple oil and refining sites in producing countries were damaged during the war. It will take three to six months to fully reach pre-war levels of regional production and refining."
Restoring shipments in the Persian Gulf requires confidence-building measures, including reestablishing insurance for tankers. Iranian officials indicate that safe passage will depend on coordination with the Armed Forces. Restarting oil supplies will not be straightforward, as it may take weeks to months to resume operations. Persian Gulf oil producers have cut output significantly, and damage to facilities during the conflict complicates recovery. Full restoration of production and refining levels may take three to six months, affecting both oil and natural gas supplies.
Read at Axios
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