CEO of Aramco: Continued Closure of Strait of Hormuz Could Reduce 100 Million Barrels of Oil in Markets Weekly
The CEO of Saudi Aramco's operations issued a strong warning that the ongoing closure of the Strait of Hormuz could lead to a significant contraction in the global oil market, with an estimated one billion barrels of oil affected due to this crisis so far. Amin Nasser, CEO of Aramco's global oil operations, stated this on Tuesday.
AI Translated Summary:
The CEO of Aramco warns that the ongoing closure of the Strait of Hormuz could reduce oil supply by 100 million barrels weekly, impacting global markets. This crisis has already led to a significant decrease in oil availability, totaling one billion barrels.
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