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Alexander Guevara

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TotalEnergies expects normalization of the oil market to take three or four months

The chief executive officer of TotalEnergies, Patrick Pouyanné, said that the countries producing in the Persian Gulf have built up many crude oil reserves that they had been unable to export because of the closure of Hormuz, and now are looking for tankers to put them on the market.
The chief executive officer of TotalEnergies, Patrick Pouyanné, estimates that the oil market will still take «three or four months» to adjust, despite the reopening of the Strait of Hormuz, actually partial, in the face of the imbalances that have been created.

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Reference 1: Reuters (April 29, 2026)

Reference 2: TotalEnergies Press Office (April 29, 2026)

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totalenergies

TotalEnergies expects normalization of the oil market to take three or four months

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