The global oil market could lose around 100 million barrels per week if disruptions in the Strait of Hormuz continue at the current pace and the strategic waterway remains closed, the chief executive of Saudi oil giant Saudi Aramco said on Monday.

Amin Nasser, the company’s CEO, warned that continued shipping disruptions through the Strait of Hormuz could significantly affect global energy supplies, underscoring the waterway’s importance to international oil markets.

Demand Rationing Expected to Continue

“We expect demand rationing to continue as long as supply remains disrupted through the Strait of Hormuz,” Nasser said.

“If normal trade and shipping resume, we anticipate a very robust return to demand growth,” he added.
Strategic Waterway Under Pressure

The Strait of Hormuz, located between the Persian Gulf and the Gulf of Oman, is one of the world’s most critical energy chokepoints, carrying a substantial share of global crude oil and liquefied natural gas exports.

Nasser’s comments come amid heightened regional tensions and concerns over maritime security, with shipping and energy markets closely monitoring developments around the strait.