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Saudi Aramco CEO warns: Ongoing Middle East conflict will cause "catastrophic consequences" for the oil market

2026-03-10 13:33:29

Gate News reports that on March 10, the CEO of Saudi Aramco, Amin Nasser, stated that the longer the conflict in the Middle East continues, the more "disastrous" consequences it will have on the oil market and the "severe" impact on the global economy. Nasser's warning is the first public comment from Saudi Aramco regarding the ongoing conflict triggered earlier this month by the U.S. and Israel's attacks on Iran. During a media conference call, he said that in response to "the greatest crisis faced by the region's oil and natural gas industry," Saudi Aramco will be able to export about 5 million barrels of crude oil daily from the western port of Yanbu within a few days. Due to threats posed by Iran to shipping near the Strait of Hormuz, other Saudi Aramco ports are unable to operate normally, making Yanbu the only available export route at present.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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