Aramco CEO Amin Nasser warns that a loss of about one billion barrels of oil over the past two months will slow the recovery of global oil markets. Despite Aramco reporting a 25% increase in quarterly profit, shipping disruptions through the Strait of Hormuz have choked supplies and driven prices higher since Iran's blockade. "Our objective is to keep energy flowing," Nasser said at the World Economic Forum. "Reopening routes does not normalize a market deprived of one billion barrels." Aramco has used its East-West Pipeline to bypass Hormuz, but Nasser emphasized that Asia remains crucial for global demand. The longer disruptions continue, he warned, the more severe the economic impact could be.
Aramco CEO warns 1 billion barrels lost will slow oil market recovery
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