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Strait of Hormuz Disruption Could Push Oil Market Recovery Into 2027, Aramco CEO Says
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.
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Fox Business+2 Reposted by 2 other sources
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…
·United States
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Al ArabiyaReposted by 
The Straits Times
The Straits TimesStrait of Hormuz disruption could push oil market recovery into 2027, Aramco CEO says
·Saudi Arabia
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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.
·New Delhi, India
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Coverage Details
Total News Sources25
Leaning Left2Leaning Right8Center1Last UpdatedBias Distribution73% Right
Bias Distribution
- 73% of the sources lean Right
73% Right
L 18%
R 73%
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