Saudi Aramco CEO Warns of Dire Oil Market Risks Amid Mideast Conflict
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Saudi Aramco CEO Warns of "Catastrophic Consequences" for Oil Markets Amid Mideast War
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News18•10-03-2026, 14:00
Saudi Aramco CEO Warns of "Catastrophic Consequences" for Oil Markets Amid Mideast War
•Saudi Aramco CEO Amin H. Nasser warns of "catastrophic consequences" for global oil markets if the Mideast war disrupts energy supplies.
•Nasser stated that prolonged disruption, especially around the Strait of Hormuz (17% of world's oil supply), could severely impact the global economy.
•The company's East-West pipeline, with a 7-million-barrels-per-day capacity, serves as a key alternative to bypass the Strait of Hormuz.
•Aramco is working to bring the East-West pipeline to full capacity and has 2 million barrels per day of spare capacity for quick supply restoration.
•Aramco maintains contingency plans, adequate storage, and a flexible global supply chain to ensure uninterrupted supply to customers.
