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

Middle East News

11-05-2026 | 09:56

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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

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