Saudi Aramco CEO Warns of Severe Impact on Oil Market Amid Middle East Conflict

Saudi Aramco's CEO Amin Nasser has issued a warning about the prolonged Middle East conflict, stating it could have catastrophic consequences for the oil market and severe effects on the global economy. According to BlockBeats, this marks the first public comment from Saudi Aramco regarding the ongoing conflict triggered by recent U.S. and Israeli attacks on Iran. During a media conference call, Nasser highlighted the crisis facing the region's oil and gas industry. He noted that Saudi Aramco is prepared to export approximately 5 million barrels of crude oil daily from the western port of Yanbu within days. The threat posed by Iran to shipping near the Strait of Hormuz has disrupted operations at other Saudi Aramco ports, making Yanbu the only viable export route currently available.