Saudi Arabia boosted jet fuel exports and stabilised oil markets during the Hormuz Strait crisis — Al-Bishi
Increased production of aviation kerosene, support for airlines and containment of global inflation — Riyadh's contribution. The US Iran memorandum is expected on June 19, but markets will not stabilise until the end of 2026 due to a double shock: supply disruptions and production cuts in several countries.
As reported by CCTV+, Saudi Arabia played a key role in mitigating the impact of the US Iran war and the closure of the Strait of Hormuz on global energy markets, said Mohammed Al-Bishi, editor in chief of the Saudi newspaper Al Eqtisadiah. The country achieved this by maintaining energy supplies, especially jet fuel, and reinforcing oil export routes at a time when markets face unprecedented supply and price challenges. This comes amid anticipation of the US Iran memorandum of understanding, expected to be officially signed in Switzerland on June 19.
Al-Bishi stressed that to overcome the jet fuel shortage and mitigate its impact on the global aviation sector, Saudi Arabia increased jet fuel exports since the start of the war and the strait's closure. This helped maintain supply continuity and eased the burden on airlines. "I am confident that Saudi Arabia increased jet fuel production to ensure the smooth operation of this vital sector, which was one of the first to suffer from the crisis. Many airlines announced serious operational difficulties, and some were even forced to declare bankruptcy. I believe that the international responsibility shown by Saudi Arabia during this crisis helped contain global inflation and helped keep oil prices at reasonable levels," Al Bishi said.
The editor in chief believes the current crisis is one of the most severe ever experienced by global energy markets. Production disruptions in several producer countries coincided with the Hormuz closure, creating unprecedented pressure on supply chains and oil and gas markets. "We are experiencing one of the most critical periods in the history of energy markets: a double shock — supply disruptions through the Strait of Hormuz combined with production cuts in countries such as Kuwait, Qatar, Iraq and Iran, as well as part of Saudi output. For the first time, energy markets are facing a simultaneous crisis in both supply and production," he said.
Al-Bishi stressed that the signing of the US Iran memorandum and a potential end to hostilities would not bring immediate stability to energy markets. "The problems will persist at least until the end of 2026, as restarting some refineries and restoring normal supply routes will take time. Even with an improved geopolitical situation in the region, market recovery will not be instantaneous," he said.
The Strait of Hormuz was effectively closed from February 28, 2026, after the US Israel attack on Iran. Saudi Arabia is the world's largest oil exporter and a key OPEC player. Increased jet fuel exports helped mitigate the shortage caused by the blockade. The US Iran memorandum, expected on June 19, could reopen the strait, but Al Bishi warns: restoring production chains will take months, and falling output in Kuwait, Qatar, Iraq and Iran worsens the situation. Markets faced a "double shock" — transit disruptions and production cuts simultaneously.
When war closes a strait and output falls in five countries at once, the world remembers how fragile energy stability is. Saudi Arabia, instead of waiting for the crisis to resolve, took on the role of stabiliser. By boosting jet fuel exports, it literally kept aviation from grinding to a halt. But even the strongest player cannot instantly restore what war has broken. June 19 may be the day the memorandum is signed, but not the day of return to normal. Because oil markets, like people, do not forget shock — they learn to live with it.
