Oil market may stay disrupted into 2027 if Iran conflict isn't resolved soon, says Aramco CEO

Amin Nasser, CEO of Saudi Aramco, warned that the global oil market may not return to normal this year unless the conflict involving Iran is resolved within weeks. He highlighted that even if the Strait of Hormuz reopens immediately, it would take months for the market to rebalance. A delay in reopening by a few more weeks could push normalization into 2027. This statement comes amid a 47% rise in oil futures for December, reflecting market concerns about prolonged disruption.