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Aramco sees ‘catastrophic consequences’ for oil if shipping doesn’t resume in Strait of Hormuz
DUBAI: Saudi Arabia’s Aramco , the world’s top oil exporter, said on Tuesday that there would be “catastrophic consequences” for the world’s oil markets if the Iran war continues to disrupt shipping in the Strait of Hormuz. The disruption has not only upended the shipping and insurance sectors but also promises to have drastic domino effects on aviation, agriculture, automotive and other industries, Aramco CEO Amin Nasser told reporters on an earnings call.
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arabnews.com
Aramco sees ‘catastrophic consequences’ for oil if shipping doesn’t resume in Strait of Hormuz
DUBAI: Saudi Arabia’s Aramco , the world’s top oil exporter, said on Tuesday that there would be “catastrophic consequences” for the world’s oil markets if the Iran war continues…
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theguardian.com
Aramco warns of oil market ‘catastrophe’ unless strait of Hormuz reopens soon
Saudi Arabian state oil firm calls crisis by far the biggest but company can reroute 70% of exports via its east-west pipeline
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With the Strait of Hormuz closed … how many days can the world withstand an oil disruption?
RIYADH: The Strait of Hormuz is one of the world’s most important maritime routes for the energy sector, with roughly 20 million barrels of oil passing through it daily, or about…