Conglin Xu

The closure of the Strait of Hormuz earlier this year could trigger the largest revision of LNG sale and purchase agreement (SPA) language in years, according to recent analysis by the Oxford Institute for Energy Studies (OIES). The report, authored by OIES Senior Research Fellow Agnieszka Ason, notes that a market long characterized by supply growth and commercial flexibility is shifting toward one that must account for scarcity, disruption, and recovery.

The global oil market has entered one of its most volatile periods in decades as the conflict involving Iran, Israel, and the US evolves into a broader systemic energy shock.

Conglin Xu, Managing Editor-Economics, covers worldwide oil and gas market developments and macroeconomic factors, conducts analytical economic and financial research, generates estimates and forecasts, and compiles production and reserves statistics for Oil & Gas Journal. She joined OGJ in 2012 as Senior Economics Editor. Xu holds a PhD in International Economics from the University of California at Santa Cruz.