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Aramco Sees 'Catastrophic Consequences' for Oil Markets if Hormuz Strait Remains Blocked
Aramco CEO Amin Nasser said oil inventories are at a five-year low and disruption in the Strait of Hormuz risks accelerating drawdowns with broad industry impacts.
- On March 10, 2026, Saudi Aramco warned continuing disruption in the Strait of Hormuz would cause 'catastrophic consequences' for global oil markets.
- Amid the Iran war, disruptions through the Strait of Hormuz have upended the shipping and insurance sectors, officials said on the earnings call.
- Aramco reported a 1 per cent drop in annual profit and announced a US$3 billion share buyback, with Ras Tanura being restarted after a small fire last week.
- Aramco warned that the crisis will speed inventory drawdowns and cause knock-on effects across aviation, agriculture, automotive, shipping, and insurance sectors.
- Global oil inventories sit at a five-year low, increasing risk as Aramco warned prolonged Strait of Hormuz disruption would cause more drastic consequences for the global economy.
43 Articles
43 Articles
MichaelSavage.com – Saudi oil giant warns of ‘catastrophic consequences’ from Iran war as three commercial ships are ‘attacked’ in Strait of Hormuz and Tehran tries to strangle world’s energy supplies
Saudi Arabia's state oil company has warned of 'catastrophic consequences' for the world's oil markets if the Middle East war continues to choke exports, as three commercial ships were attacked in the Strait of Hormuz. The waterway is a chokepoint in the global oil trade, where roughly 20 per cent of the world's oil would…
Aramco CEO Warns of 'Catastrophic Consequences' to Oil Markets Amid Conflict in Iran
The CEO of the world’s largest oil company is warning of “catastrophic consequences” to oil markets as the conflict in Iran continues, rendering the Strait of Hormuz largely impassable. Since the United States and Israel launched the joint attack on Iran a week and a half ago, few ships have traversed the Strait of Hormuz, a key oil shipping lane connecting the Persian Gulf to the Gulf of Oman and the Arabian Sea. Iran’s Revolutionary Guards sai…
Aramco CEO warns of ‘catastrophic consequences’ for oil markets
Saudi Aramco’s CEO warned of “catastrophic consequences” for the world economy if oil exports through the Strait of Hormuz continue to be blocked.The state-controlled oil company is using storage facilities around the world to meet customer demand as it deals with “by far the biggest crisis the region’s oil and gas industry has faced,” Amin Nasser said on an earnings call. It is also ramping up oil flows through its East-West pipeline to get its…
Global oil supplies are at their lowest point in five years, says Saudi energy giant
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