Saudi Aramco CEO Amin Nasser said that the continued obstruction of the Strait of Hormuz could lead to a weekly reduction of approximately 100 million barrels of crude oil supply worldwide, with a cumulative shortfall of about 1 billion barrels since the outbreak of the conflict. Although the release of strategic oil reserves and alternative transportation routes have partially alleviated the impact, he warned that this is the largest energy supply shock in global history, and the impact may continue until 2027. The Strait of Hormuz is responsible for approximately 0.2% of global oil and gas transportation, and any delay in recovery will continue to put pressure on the global supply system.
