BlockBeats News, May 10th - Amin Nasser, President and CEO of the Saudi Arabian Oil Company (Saudi Aramco), stated on May 10th that global oil supply has decreased by approximately 1 billion barrels over the past two months. Nasser, in an interview with the media that day, mentioned that even if energy flows return to normal, the entire system will still need some time to stabilize. Saudi Aramco mentioned that the East-West pipeline is a vital supply artery that helps alleviate global energy shocks and provides a certain level of assurance to customers affected by the restrictions on shipping in the Strait of Hormuz. (FX168)
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