24 Hrs
Source:
بوابة الشروق
_1777352244987_250242181.png&w=48&q=75){kind=small}
Aramco: Iran-US conflict drops oil by 2.6B barrels
The article discusses statements made by Amin Nasser, CEO of Saudi Aramco, regarding the loss of over 2.6 billion barrels of oil from global markets since the start of the US-Iran war in February, due to tensions in the Strait of Hormuz and conflicts in the Red Sea. He confirmed that these disturbances have caused an almost complete depletion of oil inventories, equivalent to a full month's production, and warned that global energy supplies could decline further if the situation persists. He explained that the company's reserves enable it to restore production to pre-war levels within three weeks, with the capacity to increase output to 12 million barrels per day. Nasser also pointed out that other disruptions, such as the Houthi blockade of Saudi oil, could further destabilize the market, along with warnings about vulnerabilities in the global refining system. The article highlights the extent of the damage caused by the current tensions to the global oil market and the ongoing efforts by Aramco to continue meeting global demand despite these obstacles.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)