Saudi Arabia’s Aramco says to maintain customer service as regional escalation causes shipping disruptions
About 17 percent of global oil supply normally transits the affected region, with disruptions so far amounting to nearly 80 million barrels, Nasser said during a media call held alongside the release of Aramco's 2025 results, which showed adjusted net income of 104.7 billion U.S...
✨ Key Highlights
Saudi Aramco CEO Amin Nasser has warned that regional military escalation is causing significant shipping and insurance disruptions, impacting global oil markets and the economy. The company is working to maintain customer service despite these challenges.
- Nearly 17 percent of global oil supply normally transits the affected region.
- Saudi Aramco is leveraging its operational capabilities and the East-West pipeline to serve customers.
- The company's Ras Tanura oil refinery was temporarily shut down as a precaution due to attacks but is now restarting.
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Oil Prices Volatile After Trump Iran Warning, Strait of Hormuz Threat - March 2026
Oil prices experienced historic volatility, surging to $115 a barrel before a potential release of emergency stockpiles and comments from US President Donald Trump offered some relief, though prices remain elevated. Saudi Aramco CEO Amin Nasser warned that regional military escalation is causing significant shipping and insurance disruptions, impacting global oil markets. G7 nations pledged to take necessary measures to support global energy supplies amidst soaring oil prices triggered by the US-Israel conflict with Iran, though no immediate agreement to release strategic reserves was reached.
