World Economic Forum(@wef):‘Demand destruction’ happens when the prices for something surge or #supply dwindles. The term is now flourishing, as the squeeze in the Strait of Hormuz forces economies to forego #oil imports. #Demand can be depleted in different ways. From asbestos to whale oil, materials once deemed vital have faded away – and some historical cases might be instructive.

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World Economic Forum@wef

2026.08.19 10:04

‘Demand destruction’ happens when the prices for something surge or #supply# dwindles. The term is now flourishing, as the squeeze in the Strait of Hormuz forces economies to forego #oil# imports. #Demand# can be depleted in different ways. From asbestos to whale oil, materials once deemed vital have faded away – and some historical cases might be instructive.