If the agreement holds, the existing four-week gap in oil shipping will still arrive in NZ starting later this month.

April 08, 2026 - 01:53 UTC

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That'll be tight, won't it?
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Yep. We can reduce petrol use quite a lot if people who can work from home do, and if we use public transport in places that have it, but diesel will be a bigger problem.
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And the additional $$$$ per ship is going to inflate fuel costs even further.
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Not a lot, though: US$2m/ship is only about US$4/barrel on a background price of like US$70/barrel. The damage to ports and refineries will be a bigger deal.
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And several major production facilities were bombed too.
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True, but the whole point of OPEC is that there's quite a bit of surplus production capacity, so it's a bit hard to tell what the impact of the damage will be.
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