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He cautioned that supply shortages might intensify as the US-Iran conflict continues, according to Reuters.
Addressing the Energy Intelligence conference in London, the Saudi Aramco leader pointed out that the strain on the global oil market will continue until the crucial Strait of Hormuz is back to full operations and investor trust in energy markets is reinstated.
Mr. Nasser stated that it may require as long as two years to restock inventory while also fulfilling demand. He added that the worldwide oil market has experienced a loss of roughly 3 billion barrels of oil since the beginning of US and Israeli military actions against Iran.
source: reuters.com
Addressing the Energy Intelligence conference in London, the Saudi Aramco leader pointed out that the strain on the global oil market will continue until the crucial Strait of Hormuz is back to full operations and investor trust in energy markets is reinstated.
Mr. Nasser stated that it may require as long as two years to restock inventory while also fulfilling demand. He added that the worldwide oil market has experienced a loss of roughly 3 billion barrels of oil since the beginning of US and Israeli military actions against Iran.
source: reuters.com