Saudi Aramco CEO Warns of Global Impact from Hormuz Strait Closure

Mar 10, 2026

52 min

Mar 10, 2026 22:30

Saudi Aramco chief warns prolonged Hormuz Strait closure could shake global oil markets

## Potential Global Oil Market Disruption

Amin Nasser, CEO of Saudi Aramco, has highlighted the severe risks posed by a prolonged closure of the Strait of Hormuz. Speaking in Riyadh, Nasser emphasized that such a disruption could lead to catastrophic consequences for global oil markets and the broader economy.

## Unprecedented Crisis

Nasser described the situation as the most serious crisis the oil and gas industry in the region has ever faced. He warned that the longer the disruption continues, the more severe the impact on the global economy would be.

## Broader Economic Impacts

The effects of the closure extend beyond oil markets, potentially affecting sectors like aviation, agriculture, and automotive manufacturing. Nasser noted that global oil inventories are at their lowest in five years, which could worsen the situation.

## Urgent Need for Resolution

Restoring shipping through the Strait of Hormuz is crucial to stabilizing markets and preventing further economic damage, according to Nasser. The situation underscores the importance of maintaining open shipping lanes to ensure global economic stability.

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