Aramco CEO: Oil Market Won't Normalize Until 2027 — 100 Million Barrels Lost Every Week Hormuz Stays Shut

# Aramco CEO: Oil Market Won't Normalize Until 2027 — 100 Million Barrels Lost Every Week Hormuz Stays Shut

> **Quick answer:** Saudi Aramco CEO Amin Nasser warned on May 11, 2026 that global oil markets will not normalize until 2027 if the Strait of Hormuz disruption extends even a few more weeks past mid-June. The world is losing roughly 100 million barrels of supply every single week while Hormuz stays closed — over 1 billion barrels have already been lost since the closure began in early March. WTI crude is trading near $99/barrel and gasoline and jet fuel inventories are drawing down toward critically low levels ahead of summer. This is the structural warning the market has been dreading: not just high prices now, but a multi-year supply deficit.

The Hormuz crisis just crossed a threshold. It is no longer a question of when prices come down — it is a question of whether supply can recover at all before the end of 2026. Saudi Aramco CEO Amin Nasser delivered the starkest assessment yet on May 11, 2026, calling the Middle East conflict the **"largest energy shock the world has ever seen"** and warning that oil market normalization could slip into 2027 if the Strait of Hormuz remains blocked even a few weeks longer than currently anticipated.

*This article is for informational purposes only and does not constitute financial advice. Consult a qualified financial advisor for personal financial decisions.*

## What Amin Nasser Actually Said — and Why It Matters

Speaking at Aramco's Q1 2026 earnings briefing, CEO Amin Nasser did not mince words. His exact statement deserves to be read in full: