Wael Sawan warns Hormuz-related shortages could persist into 2027
Bloomberg reported on 28 April that Shell CEO Wael Sawan saw Hormuz-related oil and LNG shortages lasting for months and possibly into 2027, after large supply losses were partly replaced by inventory drawdowns.
Wael Sawan, Shell Chief Executive Officer, appears in the reported Bloomberg TV interview published by Bloomberg News / Bloomberg Law on 2026-04-28. The source gives the interview date as 2026-04-28; this is kept separate from the publication date.
Sawan said roughly 900 million barrels had not been produced over the preceding months and that stock drawdowns had replaced much of the missing supply. He also pointed to low inventories, demand curtailment and fuel switching. Bloomberg’s report attributes these statements to a Bloomberg TV interview.
The linked item is a first-party publication by the named broadcaster, company or event publisher. This Wellficent brief paraphrases the source and does not reproduce a full transcript.
The assessments below are analytical interpretations of the sourced interview. They should not be read as direct CEO quotations or statements.
Oil supply
Sawan described roughly 900 million barrels of unproduced supply over the preceding months and expected prolonged disruption.
LNG
Bloomberg says the shortage concerns oil and LNG.
Inventories
He said stock drawdowns had replaced missing production and inventories were reaching low levels.
Geopolitical risk
The Strait of Hormuz blockade is the stated disruption channel.
Demand signal
He cited demand curtailment and fuel switching as part of the response.
Overall editorial classification: Mixed (0.20 / −1 to +1)
The source indicates a supply-tightness signal alongside a demand-destruction counter-signal: inventories were being drawn down, but some users were curtailing demand or switching fuels. The 2027 timeframe is Sawan’s conditional risk view, not a guaranteed shortage date.
Forward-looking statements
Sawan said shortages could last for months and possibly into 2027 if the blockade-related disruption persisted.
Risks identified
Inventory drawdown, demand curtailment and fuel switching indicate a physical shock with both supply and demand responses.
Interview: 05 Feb 2026 · Source published: 05 Feb 2026
In a Bloomberg Television interview published on 5 February, Shell CEO Wael Sawan described the oil market as having some oversupply and discussed Shell’s shareholder-return programme.
Interview: 11 Dec 2025 · Source published: 13 Apr 2026
Bloomberg published this Wael Sawan conversation on 13 April 2026 but identifies it as recorded on 11 December 2025. It is included by publication date and explicitly retained as a 2025 interview.
