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

A prolonged closure or continued disruption in the Strait of Hormuz could remove around 100 million barrels of oil from the market each week, according to Aramco CEO Amin Nasser. The statement highlights a major supply shock risk for global crude and refined products, with immediate implications for energy prices and shipping flows. This is a potentially market-wide geopolitical event given the strait’s central role in oil transit.

Analysis

A prolonged closure or continued disruption in the Strait of Hormuz could remove around 100 million barrels of oil from the market each week, according to Aramco CEO Amin Nasser. The statement highlights a major supply shock risk for global crude and refined products, with immediate implications for energy prices and shipping flows. This is a potentially market-wide geopolitical event given the strait’s central role in oil transit.