BAKU, Azerbaijan, May 11. Saudi Aramco CEO Amin Nasser has stated that disruptions in the Strait of Hormuz are having a serious impact on global energy markets. TurkicWorld reports that he warned the global market could lose approximately 100 million barrels of oil per week if the current situation continues.
Amin Nasser noted that if the disruptions persist for several more weeks, restoring normal conditions could become significantly more difficult and may extend into next year.
According to the company chief, around 70 ships previously passed through the Strait of Hormuz daily, but that number has now fallen to between two and five vessels.
Experts believe that the decline in shipping through the Strait of Hormuz could seriously affect global oil supply chains and energy prices. Ongoing geopolitical tensions in the region are also increasing concerns in international markets.
The Strait of Hormuz is considered one of the world’s most strategic oil trade routes, and any disruption there directly impacts the global economy.
