Kate Durian

And everybody laughed.

You know, it's like...

Nobody would dare ask the minister that question.

Well, you know, when you cover the Middle East, and I've been doing it for, God, decades, you have to read tea leaves.

You know, you've got to look at the little nuances because they don't come out and say it, right?

And the Emirati said, no, we're not taking this because you're using a baseline from back in 2018 when our capacity was much lower.

We have higher capacity now.

We want a higher production quota.

And so they scuttled the agreement and it became public.

And Kate was thinking... Hang on, this is very unusual.

These countries don't normally argue in public.

They try to do it behind closed doors.

The stalemate lasted weeks.

The only way you're going to get gas prices to come down is if the Strait reopens, if everything returns to normal.

Oh, sure.

But after the Strait opens?

After the Strait opens, you know what's going to happen?

Your stocks, you have to rebuild stocks and people are going to be rebuilding stocks.

You know how much we've lost so far?

We've lost 700 million barrels.