Global Oil Supply Short by 1 Billion Barrels as Hormuz Crisis Deepens, Aramco Warns

Saudi Aramco’s CEO Amin Nasser has sounded the alarm on a staggering global oil shortfall, with 1 billion barrels lost over the past two months due to Iran’s blockade of the Strait of Hormuz, a critical chokepoint for energy shipments. Even if shipping routes reopen immediately, Nasser warns the market may not normalize until 2027. […] The post Global Oil Supply Short by 1 Billion Barrels as Hormuz Crisis Deepens, Aramco Warns appeared first on the deep dive.