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Photo caption: Amin Nasser, President and CEO of Saudi Aramco, attends the 56th annual World Economic Forum (WEF) meeting in Davos, Switzerland, January 20, 2026. REUTERS/Denis Balibouse*
Source: www.reuters.com
Aramco: Loss of One Billion Barrels of Oil
One billion barrels in two months, the Strait of Hormuz blockade, years of underinvestment and an east-west pipeline as a “lifeline” This is according to an interview with Amin Nasser, CEO of Saudi Aramco, by Reuters (May 10, 2026).
On Sunday, the head of Saudi Aramco, Amin Nasser, made a troubling statement. Over the past two months, the world has lost about one billion barrels of oil. And even if flows resume, energy markets will take time to stabilize. The cause — Iran’s blockade of the Strait of Hormuz. Shipping is paralyzed. Prices are creeping up.
Nasser emphasized: reopening routes is not the same as normalizing a market. The market has been deprived of one billion barrels. Years of underinvestment have only compounded the strain. Global inventories were already low.
Aramco has a trump card — its own East-West Pipeline. It bypasses the Strait of Hormuz and moves crude straight to the Red Sea. Nasser called it a “critical lifeline” to mitigate the global supply crisis.
Despite everything, Asia remains the company’s top priority. That is where the world’s demand is centered.
The irony. When the world fears that oil will run out, the real problem turns out to be different: the oil exists. But there is no one and no way to transport it.
One billion barrels is not just a number. It is one and a half months of global consumption. It is factories that could shut down. And gas stations where prices will rise. And the main question: who will pay this bill? Consumers. Always consumers.
