Hormuz Disruptions Threaten Oil Market Recovery into 2027

Saudi Aramco CEO Amin Nasser warned on Monday that disruption to oil exports via the Strait of Hormuz could delay the market's return to normal until 2027.

The longer supply disruptions continue, even for a few more weeks, it will take a much longer time for the oil market to rebalance and stabilize, according to Nasser.

Nasser said that if the situation continues until mid-June, the recovery could drag into 2027.

The Strait of Hormuz is already experiencing its biggest disruption in history due to the Iran war, with around 100 million barrels of oil lost per week and only two to five vessels crossing daily compared to the normal 70.