Aramco CEO predicts tighter oil markets, sees Red Sea risks

Aramco CEO Amin Nasser said global oil markets will cope with Red Sea disruptions in the short run, but prolonged attacks by the Houthis on ships would lead to a shortage of tankers due to longer voyages. Attacks by the Houthis on ships in the Red Sea have forced many companies to divert cargoes around Africa. Aramco can bypass the Bab al-Mandab strait near Yemen, from where the Houthis launch attacks, via a pipeline connecting its eastern oil facilities with its western coast and giving it quicker access to the Suez Canal.

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