Rosneft chief: U.S. companies benefit from the closure of Hormuz
Rosneft chief Igor Sechin said U.S. energy firms are the main winners from the Hormuz shutdown. He warned prolonged tension there could hurt long-term oil demand.
Intelligence analysis by GPT-5.4 Mini
At a forum in St. Petersburg, Sechin argued that U.S. moves around Hormuz have shifted energy markets in Washington’s favor, giving American firms pricing and supply advantages. He also said a long disruption could weaken oil demand over time and increase interest in alternatives.
A giant shortcut for oil tankers has been blocked, like a busy highway suddenly closing. Sechin says that helps some U.S. oil companies now, but if the block lasts too long, fewer people may want oil later and more may look for other power sources.
Analysis
Sechin’s argument
Igor Sechin, the chief executive of Rosneft and one of Russia’s most influential energy figures, said the closure of the Strait of Hormuz is primarily benefiting U.S. energy companies. Speaking at the St. Petersburg International Economic Forum, he argued that Washington’s actions were aimed at Iran but ended up affecting the wider world.
Why Hormuz matters
Sechin said the strait normally carries about 20% of global oil supplies, which makes it a critical artery for the energy market. In his view, the disruption has created non-competitive advantages for American firms, which can secure supply at expensive prices while the market stays under pressure.
He also warned that a long period of tension in Hormuz could damage long-term oil demand. He said that kind of instability could also push more attention toward alternative energy sources.
Broader market warning
Sechin said China had prepared better for the crisis because of government policy, but he cautioned that other major routes such as Malacca, Bab el-Mandeb, and Gibraltar could also face disruption. He added that if the strait reopened soon, oil could climb to $95-$96 a barrel by the end of the year, then ease to $80-$85 over the following year before returning to market fundamentals in the second half of 2027.
Wider geopolitical framing
In the same speech, Sechin described a world facing faster worsening crises, including greater military rivalry, financial excess, and looming shortages of electricity, food, water, and key metals. He also argued that OPEC+ has lost some of its capacity over time and said Russia would need large investment to make up for lower oil output.
Key points
- Sechin said U.S. energy companies are the main beneficiaries of the closure of the Strait of Hormuz.
- He warned that prolonged tension in the strait could weaken long-term demand for oil.
- He said the strait normally carries about 20% of global oil supplies.
- He argued that other chokepoints, including Malacca, Bab el-Mandeb, and Gibraltar, could also be at risk.
- He forecast that oil could reach $95-$96 a barrel if the strait reopens soon, then ease later.
If the Strait of Hormuz reopens soon, the article says oil prices could settle rather than stay under pressure. That would reduce the strain on shipping and could help the market return to its normal supply-and-demand balance over time.
If the tension lasts, Sechin warns it could reduce long-term oil demand and encourage a shift toward alternative energy. He also says other major shipping routes could be vulnerable, which would widen the risk of further disruptions.
