The global oil market is facing a tough road to recovery after losing around 1 billion barrels of oil over the past two months due to shipping disruptions in the Strait of Hormuz. Saudi Aramco’s CEO Amin Nasser warns that even if flows resume, the market will take time to stabilize, citing years of underinvestment and low global inventories . Aramco is using its East-West Pipeline to bypass the blockade, but Nasser emphasizes that reopening routes won’t immediately normalize the market. The pipeline, which has reached its maximum capacity of 7 million barrels per day, is a critical lifeline for the global supply crisis . Asia remains a key priority for Aramco, driving global demand amidst the ongoing supply crisis triggered by Iran’s blockade and the U.S.-Israeli war. The company’s Q1 profit jumped 25% to $32.5 billion, beating estimates .
Oil Crisis Deepens: 1 Billion Barrels Lost, Market Recovery to be Slow – Aramco CEO
