Saudi Aramco: During the most severe period of the crisis, the daily import of crude oil in the Asia-Pacific region decreased by about 6 million barrels.

date
04/08/2026
Nasser, the CEO of Saudi Aramco, stated that the company's East-West pipeline and global inventory have helped mitigate supply shocks, narrowing the net supply gap to approximately 1.8 billion barrels. Several countries in Asia have been affected, with daily crude oil imports in the region decreasing by about 6 million barrels during the peak of the crisis. Nasser mentioned that if the Strait of Hormuz were to reopen today, it would take up to 18 months to replenish the depleted inventory at an average oil flow rate of 2.1 million barrels per day. He expressed hope for reaching a solution to restore normal shipping and stabilize the market, but noted that the return to normalcy would take time.