Saudi Aramco CEO Reports Significant Drop in Global Oil Supply

Saudi Aramco President and CEO Amin Nasser stated on the 10th that global oil supply has decreased by approximately 1 billion barrels over the past two months. According to Odaily, Nasser mentioned in a media interview that even if energy flows return to normal, the entire system will take time to stabilize. Saudi Aramco emphasized the importance of the East-West pipeline as a crucial supply artery, which helps mitigate global energy shocks and provides some assurance to customers affected by shipping restrictions in the Strait of Hormuz.