Global Energy Crisis: Saudi Aramco Reveals 1 Billion Barrel Loss Due to Hormuz Strait Disruption

The recent tensions in the Middle East have led to a major crisis in the global energy market, with the blockage of the Hormuz Strait causing significant disruptions to the global oil supply.

Saudi Aramco, the Saudi Arabian oil giant, has revealed that the global market has lost nearly 1 billion barrels of oil over the past two months due to the disruption.

According to CEO Amin Nasser, the energy market will take time to stabilize even after the distribution channels are reopened.

Nasser also stated that the low investment in the energy sector over the past few years has put additional pressure on the global energy supply.

The Hormuz Strait, a vital oil distribution channel, has been blocked by Iran, leading to a significant increase in oil prices globally.

Saudi Aramco has been using the East-West Pipeline to divert oil distribution and avoid the blocked Strait.

The company's CEO has described the pipeline as a 'critical lifeline' in reducing the impact of the global energy crisis.

Despite the challenges, Saudi Aramco has reported a significant increase in profits, with a net income of $33.6 billion in the first quarter of 2026.