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Saudi Aramco Warns of Consequences for Oil Shipping in the Strait of Hormuz

Published March 10, 2026, 09:14
Saudi Aramco Warns of Consequences for Oil Shipping in the Strait of Hormuz

Saudi Aramco has warned of severe consequences for global oil markets if shipping in the Strait of Hormuz is not restored, emphasizing the need for its reopening to avoid catastrophic effects. The company stated that continued disruption will lead to a faster decline in global oil reserves. Simultaneously, it announced a 12.1% decrease in its net profits for 2025 due to increased oil supply, US tariffs, and other economic factors. Aramco CEO Amin Nasser highlighted that global oil markets are significantly impacted by the disruption in the Strait of Hormuz, with the company warning of dramatic consequences in sectors such as insurance, aviation, agriculture, and automotive if further conflict occurs in the region. Aramco reports that global oil reserves are at their lowest level in the last five years, exacerbating the criticality of the situation. The company is also facing attacks from Iran, which have caused disruptions in key energy facilities, such as the Ras Tanura refinery. The conflict in the Gulf and instability in the energy supply chain continue to cause fluctuations in crude oil prices, impacting the global economy. The company announced net income of $93.38 billion for 2025, compared to $106.24 billion in 2024.