# The CEO of Saudi Arabia's state-owned oil company is warning that the energy sector will take time to recover from the Iran war's impact on supply.

*business · news · 2026-05-12 · FOX 4 News*

## Key points

- Global energy markets have lost about 1 billion barrels of oil supply due to the Iran war.
- Aramco estimates 100 million barrels of oil supply are lost weekly while the Strait of Hormuz is closed.
- Full normalization of oil markets may not occur until 2027 if disruptions persist several more weeks.
- Aramco's East-West pipeline has reached its 7 million barrels per day capacity to reroute exports.
- Aramco is considering expanding export capacity at Yanbu to further offset Strait of Hormuz disruptions.

**Companies:** Saudi Aramco, Chevron
**Countries:** Saudi Arabia, Iran

[Read the full story on FOX 4 News](https://www.fox4news.com/news/saudi-aramco-ceo-oil-markets-hormuz-disruptions)

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