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Representative image: Oil tankers navigating the Strait of Hormuz amid rising geopolitical tensions, reflecting Saudi Aramco’s warning that a shutdown of the key shipping route could remove around 6.7 million barrels per day from global oil supply and trigger the biggest Gulf energy crisis in decades.

Aramco CEO says 6.7 million barrels a day lost as Hormuz shutdown surpasses every prior Gulf energy crisis

Saudi Aramco CEO Amin Nasser warns of catastrophic consequences for global oil markets as the Strait of Hormuz crisis deepens. Read our full analysis.

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March 10, 2026