Saudi Aramco President and CEO, Amin Nasser, warned of the severe repercussions that will affect global markets as a result of the continued closure of the Strait of Hormuz.
Nasser emphasized, in a press conference held by telephone following the company's earnings announcement, that the continued disruption of shipping in the Strait of Hormuz could lead to disastrous consequences for global oil markets.
Nasser pointed out that each additional day of disruption means more severe repercussions for the global economy. He explained that these disruptions have triggered a chain reaction extending beyond the energy sector to include shipping and insurance, with a domino effect impacting vital sectors such as aviation, agriculture, the automotive industry, and other global industries.
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