Svmuureports that amid the ongoing disruption in the Strait of Hormuz, the strain on global energy supply has further intensified. Saudi Aramco issued a strong warning during its latest earnings call, pointing out that the current scale of the shock has reached an unprecedented level.
CEO Amin Nasser stated at a meeting on Monday that if this critical waterway remains blocked, the world could see a reduction of approximately 100 million barrels of crude oil supply per week. Since the outbreak of the current conflict, the cumulative shortfall has reached about 1 billion barrels. Although some of the losses have been partially cushioned by releases from strategic petroleum reserves and alternative transport routes, Nasser emphasized: "We are facing the largest energy supply shock in global history."
The impact of this shock is extending over a longer cycle. The Strait of Hormuz normally handles about one-fifth of the world's oil and gas transport. If the timeline for its restoration continues to be delayed for several more weeks, the repair of market supply-demand dynamics could be forced back to 2027. The resulting disruption is no longer limited to short-term volatility but is placing sustained pressure on the global supply system. (Jin Shi)