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Saudi Aramco President: Continued Shipping Disruptions Will Have Serious Consequences for Oil Markets and Global Economy
Saudi Aramco, the national oil company of Saudi Arabia, announced on the 10th that most of the world’s remaining oil capacity is concentrated in the Middle East. Restoring the transportation of related maritime routes is crucial to ensuring international oil supplies. Continued disruptions could have serious consequences for the global oil market and the world economy.
During a media conference call, Nasser said that in response to the ongoing regional crisis, Saudi Aramco has developed contingency plans for various possible scenarios to do its best to ensure oil supply.
Nasser stated that Saudi Aramco’s maximum sustained daily production capacity is 12 million barrels, and the company is maximizing the use of east-west oil pipelines to maintain supply. The pipeline capacity is nearly 7 million barrels per day, with some used to supply the Yanbu refinery in western Saudi Arabia, and the rest for export.
Saudi Aramco’s performance report released today shows that, influenced by increased global oil supply and U.S. tariffs, the company’s adjusted net profit for 2025 is approximately $104.7 billion, a 5.1% decrease from the previous year. (Xinhua)