As Gulf states continue to face Iranian fire, Bloomberg reports they are urging the president to seek an ‘off ramp’ from the war while asking allies to bolster air defenses and drone interception, including MAMBA systems now scarce due to shipments to Ukraine
Sure this will benefit oil producers in the west writ large, and I’m not sure of the capacity of any refineries in North America to process Venezuelan crude, but Canada will not be able to offset losses in global oil production, so the cost of petroleum will increase regardless.
Yeah, that was my original point, that these shirt wars are profitable for oil producers who compete with the Middle East. It’s bad for pretty much everyone else though, for sure.