Hormuz crisis hides a deeper oil threat that could outlast the war

This material may not be published, broadcast, rewritten, or redistributed. ©2026 FOX News Network, LLC. All rights reserved. Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. Mutual Fund and ETF data provided by LSEG. Art Berman says millions of barrels of production remain shut in and warns some wells could take months to restart — while others may never fully recover. As global attention remains fixed on tankers moving through the Strait of Hormuz, a petroleum geologist is warning that the more consequential energy story may be unfolding thousands of feet underground — and could continue long after any political agreement ends the fighting. Art Berman, a petroleum geologist and energy consultant with more than four decades of industry experience, told Fox News Digital that millions of barrels of Persian Gulf oil production remain shut in and warned that restoring those wells is far more complicated than simply reopening the strategic waterway. "This is potentially a kind of a world-changing event, even if we resolve the political issues," Berman said. "The bigge