# Saudi Aramco CEO Amin Nasser says the global energy market has lost about 1 billion barrels of oil supply.

*business · news · 2026-05-12 · New York Post*

## Key points

- Saudi Aramco estimates the global energy market has lost 1 billion barrels of oil in this crisis.
- The Strait of Hormuz closure results in a weekly loss of about 100 million barrels of oil supply.
- Aramco predicts oil markets might not normalize until 2027 if disruptions persist for weeks.
- Aramco's East-West pipeline, now at maximum 7 million barrels daily, is crucial for global exports.
- Aramco is exploring expanding export capacity at Yanbu, the pipeline's Red Sea terminal.

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

[Read the full story on New York Post](https://nypost.com/2026/05/12/business/saudi-aramco-ceo-warns-oil-markets-may-not-recover-until-2027-due-to-hormuz-disruptions/)

---

Canonical: https://newsio.io/n/b8d9a9ce-55a5-48db-a3ba-6622efde8e69/saudi-aramco-ceo-amin-nasser-says-the-global-energy-market-has-lost-about-1-bill
Summarized by Newsio from New York Post. https://newsio.io/how-it-works