LBCI

Mideast war caused world's 'largest energy shock': Saudi Aramco CEO

Middle East News

11-05-2026 | 09:56

Share

Share

Mideast war caused world's 'largest energy shock': Saudi Aramco CEO

The Middle East war triggered the world's largest energy shock, with market recovery likely to extend into 2027 even if the Hormuz blockade is lifted soon, Saudi oil giant Aramco's CEO told investors Monday.

"The energy supply shock that began in the first quarter is the largest the world has ever experienced," said Amin H. Nasser, adding: "If the Strait of Hormuz opens today, it will still take months for the market to rebalance, and if its opening is delayed by a few more weeks, then normalisation will last into 2027."

AFP

Middle East News

caused

world's

'largest

energy

shock':

Saudi

Aramco

Next

Trump says pressure on Iran will continue until deal is reached

Israel slams planned EU sanctions on settlers as 'arbitrary and political'

Previous

Recommended For You

UAE exports record oil volumes after OPEC exit, ship-tracking data shows

Middle East News

13:51

UAE exports record oil volumes after OPEC exit, ship-tracking data shows

Iran says will respond to any US violation of memorandum of understanding

Middle East News

08:20

Iran says will respond to any US violation of memorandum of understanding

Iran to hold talks with Qatar on frozen assets: Foreign ministry

Middle East News

07:55

Iran to hold talks with Qatar on frozen assets: Foreign ministry

Qatar says no direct US-Iran talks to take place in Doha

Middle East News

06:37

Qatar says no direct US-Iran talks to take place in Doha

Subscribe to our VOD

SUBSCRIBE

Our visitors readings

Iran says it struck US-linked targets in response to US attacks

Middle East News

2026-06-27

Iran says it struck US-linked targets in response to US attacks

In South Lebanon, Netanyahu says Israel will stay as long as Hezbollah 'threatens us'

11:37

In South Lebanon, Netanyahu says Israel will stay as long as Hezbollah 'threatens us'

Lebanon's civil defense says Israeli strike kills rescuer in south

2026-05-08

Lebanon's civil defense says Israeli strike kills rescuer in south

More than tourism: What the UAE's Lebanon travel decision means

News Bulletin Reports

13:05

More than tourism: What the UAE's Lebanon travel decision means

Videos

Lebanon’s ambassador to Washington: trilateral framework agreement first step toward restoring sovereignty

2026-06-26

Lebanon’s ambassador to Washington: trilateral framework agreement first step toward restoring sovereignty

Rubio on Lebanon-Israel framework agreement: 'beginning of the beginning,' more work needed

2026-06-26

Rubio on Lebanon-Israel framework agreement: 'beginning of the beginning,' more work needed

Lebanon, Israel sign trilateral framework agreement after Washington talks attended by Rubio: Video

2026-06-26

Lebanon, Israel sign trilateral framework agreement after Washington talks attended by Rubio: Video

Israeli strikes renew on Choukine, Maifadoun, and Nabatieh al-Fawqa in southern Lebanon: Video

2026-06-20

Israeli strikes renew on Choukine, Maifadoun, and Nabatieh al-Fawqa in southern Lebanon: Video

Massive Israeli strikes hit South Lebanon under ceasefire conditions

2026-06-19

Massive Israeli strikes hit South Lebanon under ceasefire conditions

Trump criticizes Israel’s Lebanon campaign, says war has gone on ‘too long’ and floats Syria role in conflict

2026-06-16

Trump criticizes Israel’s Lebanon campaign, says war has gone on ‘too long’ and floats Syria role in conflict

Rene Mouawad Airport in Qlayaat opening ceremony held in presence of Lebanese officials—Video

2026-06-06

Rene Mouawad Airport in Qlayaat opening ceremony held in presence of Lebanese officials—Video

Israeli army releases footage of first tank crossing Litani River toward Beaufort Castle

2026-05-31

Israeli army releases footage of first tank crossing Litani River toward Beaufort Castle

Iran uses cluster bombs to target Israel: AiTelly explains what happens when a missile is intercepted—Video

2026-03-25

Iran uses cluster bombs to target Israel: AiTelly explains what happens when a missile is intercepted—Video

Most read

24 hours

7 days

Month

Haaretz: Israeli military identifies three south Lebanon villages for potential withdrawal

1

Haaretz: Israeli military identifies three south Lebanon villages for potential withdrawal

President Aoun discusses security, post-framework agreement tasks with Army chief

2

President Aoun discusses security, post-framework agreement tasks with Army chief

US imposes new sanctions on Hezbollah's financial network

3

US imposes new sanctions on Hezbollah's financial network

Iranian state media: Two Revolutionary Guards members killed in armed attack in western Iran

4

Iranian state media: Two Revolutionary Guards members killed in armed attack in western Iran

More than tourism: What the UAE's Lebanon travel decision means

5

More than tourism: What the UAE's Lebanon travel decision means

Kuwait’s Zain obtains license to operate mobile network in Syria: Reuters

6

Kuwait’s Zain obtains license to operate mobile network in Syria: Reuters

FPM leader reiterates support for national sovereignty and rejects division

7

FPM leader reiterates support for national sovereignty and rejects division

Qatar says no direct US-Iran talks to take place in Doha

8

Qatar says no direct US-Iran talks to take place in Doha

Download now the LBCI mobile app

To see the latest news, the latest daily programs in Lebanon and the world

Google Play

App Store

Download now the LBCI mobile app

We use
cookies

We use cookies to make
your experience on this
website better.

Accept

Learn More