Dialogos

Saudi Aramco: "Devastating Consequences" if Strait Remains Closed

Published March 10, 2026, 09:02
Saudi Aramco: "Devastating Consequences" if Strait Remains Closed

Saudi Aramco warns of "devastating consequences" for global oil markets if shipping through the Strait of Hormuz remains disrupted due to the conflict with Iran. The company announced a 12.1% decrease in net profits for 2025, impacted by increased oil supply and other economic factors. Aramco CEO Amin Nasser emphasized that global oil inventories are at a five-year low and restarting shipping in the Strait is critical. A small fire at an Aramco refinery was quickly brought under control. Net income reached $93.38 billion in 2025, down from 2024.