Global energy markets may take as many as four months to rebalance, with gasoline and diesel inventories still constrained by shipping worries in the Strait of Hormuz, TotalEnergies SE Chief Executive Patrick Pouyanné

Energy Intelligence takes stock of how the world buffeted a potential 20 million b/d loss of crude, products and other liquids — and did so with an air of relative calm.

Global energy markets may take as many as four months to rebalance, with gasoline and diesel inventories still constrained by shipping worries in the Strait of Hormuz,…