Aramco: current energy supply shock 'largest ever experienced'

Aramco: current energy supply shock 'largest ever experienced' Aramco's CEO Amin Nasser said the current energy supply shock which hit during its first quarter is the "largest the world has ever experienced. ” He added that even if the Strait of Hormuz were to open today, it would still require months for markets to restore balance, and that if the Hormuz “disruption” were to carry on for a few more weeks, market normalisation wouldn't happen until 2027. He also said that the market will lose around 100 million barrels of oil per week if the Strait remains closed.