Business
Saudi Aramco Could Restore Output Quickly Once Strait of Hormuz Reopens
Saudi Aramco said it could restore production within days of the Strait of Hormuz reopening, while warning that prolonged disruption of the waterway poses severe consequences for oil markets and the global economy.
“There would be catastrophic consequences for the world’s oil markets, the longer the disruption goes on…the more drastic the consequences for the global economy,” Chief Executive Officer Amin Nasser told reporters on Aramco’s earnings call Tuesday.
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