Saudi Aramco warns oil supply shock from Iran conflict may last until 2027

Saudi Aramco's CEO Amin Nasser stated that the global energy market has lost about 1 billion barrels of oil due to disruptions caused by the Iran conflict, particularly the closure of the Strait of Hormuz. This has led to a weekly loss of around 100 million barrels of oil supply. Although rerouting shipments and releasing strategic reserves have helped, the market may not normalize until 2027 if the disruption continues. Aramco has increased use of its East-West pipeline to mitigate the impact and is considering expanding export capacity at its Red Sea terminal. The situation highlights the critical role of reliable energy supply for global economic stability.