Oil market won't return to normal this year if Iran conflict isn't solved within weeks, Aramco CEO says
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Amin Nasser, CEO of Saudi Aramco, stated that the oil market may not normalize this year if the Iran conflict isn't resolved soon. He emphasized that even if the Strait of Hormuz reopens, it could take months for the market to rebalance, potentially extending normalization into 2027. Oil futures have surged 47% this year, reflecting traders' concerns about a quick recovery. Aramco's operational efficiency allows it to export 7 million barrels daily without relying on the Strait of Hormuz, and its lifting costs are significantly lower than competitors.
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