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Saudi Aramco Warns Oil Market Recovery May Delay to 2027 Amid Strait of Hormuz Disruptions

GateNews
Commodities

According to Saudi Aramco CEO Amin Nasser on May 11, the Strait of Hormuz disruptions could trigger an unprecedented global oil supply shock, potentially delaying market recovery to 2027. If the critical shipping channel remains blocked long-term, global crude supply could drop by approximately 100 million barrels per week, with cumulative shortfalls reaching near 1 billion barrels since the conflict began. The strait handles about one-fifth of global oil transport.

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