Aramco Warns of Oil Market Risks From Hormuz Disruptions
Aramco warns that shipping disruptions in the Strait of Hormuz could hurt oil markets. The company also reported a 12% drop in annual profit on Tuesday.
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The chief executive of Saudi Aramco Base Oil Company - Luberef has warned of severe global economic repercussions if maritime traffic through the Strait of Hormuz remains blocked. Speaking during a recent earnings call, Amin Nasser highlighted that the ongoing conflict involving Iran is creating a high-risk environment for the world's energy markets.
