World Banks Warns: Oil Demand Destruction Spreading, “Largest Energy Supply Shock on Record”

In this Alex Jones Live article, Charles Cornish-Dale reports that World Bank warnings about oil disruption tied to the Iran war point to a widening global energy shock with serious economic consequences.

• The article says the World Bank is warning that disruption to global oil flows is now spreading into demand destruction and a major supply shock.
• It reports that global oil demand fell by 0.8 million barrels per day year-over-year in March and is expected to fall by another 1.5 million barrels per day in the second quarter.
• The piece highlights the Strait of Hormuz as a key vulnerability, noting that roughly 20% of global oil and natural gas exports normally pass through the area.
• Crude prices reportedly jumped about 65% by the end of the first month of the Iran war, creating what the article frames as a historic monthly price surge.
• The World Bank projection cited in the article says global oil output could decline by 6.9 million barrels per day in the second quarter of 2026.
• Oil markets are expected to face a deficit of 3.7 million barrels per day, keeping prices elevated even if some disruptions ease later.
• The report says crude could average $86 per barrel this year, but prolonged conflict could push the average into the $95 to $115 range.
• Fertilizer prices are also expected to rise sharply, raising concerns about higher food costs and worsening food insecurity.
• The article frames the crisis as another reminder that globalized supply chains and dependence on unstable regions leave ordinary people vulnerable when war, energy policy failures, and elite mismanagement collide.

Read the full story: https://www.alexjoneslive.com/2026/05/09/world-banks-warns-oil-demand-destruction-spreading-largest-energy-supply-shock-on-record/