Amin Nasser, President and CEO of Aramco, warned that ongoing disruptions to oil exports through the Strait of Hormuz could postpone the global oil market’s recovery until 2027, according to a report by Reuters.
Speaking during a call with analysts
following Aramco’s stronger-than-expected first-quarter earnings release
on May 10, Nasser said prolonged supply interruptions risk extending market
instability.
He noted that if the disruptions
persist for several more weeks, the oil market could take significantly longer
to rebalance and return to stability.
