Saudi Aramco CEO Warns Oil Markets May Not Recover Until 2027 Due to Strait of Hormuz Disruptions
Amin Nasser said the market is losing around 100 million barrels a week, and recovery could slip into 2027 if the strait stays blocked.
- On Monday, Saudi Aramco CEO Amin Nasser warned that ongoing disruptions to oil exports via the Strait of Hormuz could delay the energy market's return to normal until 2027.
- The Middle East war triggered the world's largest energy shock, with crude prices jumping from the mid $60s to more than $100 a barrel in March as Iran blockaded the key waterway.
- Markets have seen an "unprecedented supply loss of about a billion barrels of oil," with Saudi Arabia utilizing its East-West pipeline at maximum capacity of 7 million barrels per day to bypass the blockade.
- US-Iran talks have failed, with President Trump on Sunday rejecting Tehran's response to Washington's proposal as "totally unacceptable," while Aramco maximizes exports via separate western terminals.
- Even if the strait opens today, it will take months for the market to rebalance, and delays of a few more weeks will push normalization into 2027, Nasser added.
33 Articles
33 Articles
5 Oilfield Services Stocks Built for a Post-Hormuz World
When U.S. and Israeli forces launched coordinated airstrikes on Iran at the end of February, the energy market’s first question was how long the Strait of Hormuz would stay closed. Ten weeks later, that question is still open. Brent is hovering near $107, Trump called Iran’s latest counterproposal “totally unacceptable” on Monday, and Saudi Aramco CEO Amin Nasser has been warning the market that it is hemorrhaging roughly 100 million barrels of…
Saudi Aramco CEO warns oil markets may not recover until 2027 due to Strait of Hormuz disruptions
Saudi Aramco CEO Amin Nasser says the global energy market has lost about 1 billion barrels of oil supply amid the Iran war's disruption to Strait of Hormuz shipping.
Fox Business
Saudi Aramco CEO warns oil markets may not recover until 2027 due to Hormuz disruptions
The CEO of Saudi Arabia's state-owned oil company is warning that the energy sector will take time to recover from the Iran war's impact on supply as oil output was slashed due to the ongoing disruptions to shipping in the Strait of Hormuz.Saudi Aramco CEO Amin Nasser said on an earnings call Monday that the global energy market has lost about 1 billion barrels of oil supply during the crisis, though efforts to reroute shipments to avoid using t…
Al Arabiya
The Straits TimesStrait of Hormuz disruption could push oil market recovery into 2027, Aramco CEO says
Global Energy Shock From Iran War May Extend Till 2027: Saudi Aramco Chief
A day earlier, Aramco had announced a net profit rise of more than 25 per cent in the first quarter of 2026 compared to the same period last year, fuelled by higher oil prices as exports remain blocked in the Strait of Hormuz.
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