Upstream oil and services companies are profiting the most following recent strikes at Gulf energy facilities, causing disruptions and price surges, as per a report. The report highlights a potential negative impact on energy-deficient nations due to rising energy prices and supply interruptions. Repairing and restarting operations may be prolonged, leading to long-term challenges for the sector.
The report mentions the removal of PLNG from top picks due to the strikes at energy facilities, which could result in lasting difficulties for regasified liquefied natural gas firms. India’s crude imports decreased to 1.9 million barrels in the week ending March 6, down from approximately 25 million barrels per week in February 2026, based on Bloomberg data cited in the report.
Global weekly crude export volumes fell to 228 million barrels by the week ending March 7 and further to 184 million barrels by March 14, a decline from about 268 million barrels per week in February 2026, the report reveals. Saudi Arabia, Iraq, and the UAE experienced significant drops in shipments, while the US saw an increase. Notable reductions in LNG volumes from major importers like Japan, South Korea, China, and India led to a substantial price hike in recent weeks, nearly doubling from $10/mmbtu to close to $20/mmbtu.
