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The Strait of Hormuz probably will not fully reopen for months, a senior executive at the oilfield services firm Baker Hughes
said Friday.
Baker expects the U.S.-Iran conflict to continue through the end of June, said Chief Financial Officer Ahmed Mogal. The strait probably will not be fully operational until the second half of the year, Mogal told investors on the company’s first-quarter earnings call.
Baker is one of the most infuential oilfield drillers in the world with extensive business in the Middle East. Its view that the strait will not reopen for months is widely shared in the energy industry.
