The World's Largest Oil Company Fears an Energy Crisis "Extended" by the Ormuz Blockade

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The blockade of the Strait of Ormuz is on the way to completing ten weeks with the negotiations under way. As the U.S. and Iran finally approach positions, the threat of an unprecedented energy crisis remains on the table. Saudi Aramco’s executive director, Amin Nasser, has warned of the possibility of a “long-term disruption” of the oil market due to this situation. He makes statements in the framework of the presentation of the quarterly resul…

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The executive director of the oil company Saudi Aramco, Amin Nasser, said that the current energy supply crisis, caused by the conflict in the Middle East, is “the largest that the world has ever experienced.” “The longer the supply disruptions continue, even for a few more weeks, the longer the oil market will take to rebalance and stabilize,” Nasser told analysts, RT. In a call to address the company’s first quarter results, which yielded net …