Saudi Aramco CEO warns oil market normalization hinges on Iran conflict resolution
Saudi Aramco CEO Amin Nasser warns that the oil market cannot normalize unless the Iran conflict is resolved within weeks.Summary
Saudi Aramco CEO Amin Nasser has warned that the global oil market faces severe, historic supply shocks due to the ongoing closure of the Strait of Hormuz. With approximately 1 billion barrels of oil lost since early 2026, the disruption is currently the largest in history, forcing Saudi Aramco to cut production by 2 million barrels per day. Nasser stated that if the conflict remains unresolved in the coming weeks, market normalization could be delayed until 2027. While strategic reserves and alternative shipping routes have provided temporary relief, these measures are insufficient for a long-term shutdown, particularly as years of underinvestment in global oil infrastructure have left the industry with limited spare capacity to mitigate such crises.
(Source：Crypto Briefing)