Oil market will lose around 100 million barrels every week, if Strait of Hormuz remains closed, Aramco CEO says

πŸ‡ΊπŸ‡Έ Reuters (US) —
Oil market will lose around 100 million barrels every week, if Strait of Hormuz remains closed, Aramco CEO says

AI Summary

The CEO of Aramco warns that oil markets could face a significant loss of supply, estimating a reduction of around 100 million barrels per week if the Strait of Hormuz remains closed. This situation raises concerns for global oil prices and energy security.

Politics Commodities Energy Shipping oil market Strait of Hormuz Aramco supply loss

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