en.Wedoany.com Reported - Russian Prime Minister Alexander Novak stated that fundamental changes in the supply of energy resources are shaping new trends, including shifts in consumer behavior. Speaking at the 2026 St. Petersburg International Economic Forum (SPIEF 2026), he noted that logistics routes are changing, freight costs are soaring, and there is a shortage of tankers for transporting energy resources.
Novak made these remarks at the session "Global Energy System: How the Global Energy Sector Addresses Challenges and Risks." He believes that due to reduced supply, the global energy industry is currently under unprecedented pressure. The closure of the Strait of Hormuz and damage to energy infrastructure in Persian Gulf countries have resulted in a daily loss of approximately 12 million barrels of oil to the global market, exceeding 10% of total global supply.
"This is a huge number. From the perspective of global trade, the proportion is even higher—around 15% to 17%," Novak emphasized.
The Prime Minister pointed out that many countries have already restricted the consumption of petroleum products, which are currently facing shortages. He believes that structural changes will move toward finding new logistics routes, new opportunities for transporting energy resources, and replacing them with alternative energy sources.
According to Novak, the current situation is impacting global economic growth. Many analytical institutions have downgraded their forecasts for global economic growth in 2026 by 0.3%. This impact affects not only energy consumers and producers but also related industries such as petrochemicals and fertilizer production, driving up electricity prices and affecting food security.
Novak believes that if regional conflicts continue, the negative effects will become more severe. Global changes in logistics chains and opportunities for transporting energy resources force a reassessment of previous forecasts. At the same time, he expressed confidence that OPEC+ is now more capable than ever of mitigating changes in the global energy sector.
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