Saudi state oil giant Aramco could reach a maximum sustainable oil production capacity of 12 million barrels per day in three weeks if required, CEO Amin Nasser said on Monday.
He said that the energy supply shock that began in the first-quarter was the largest the world has ever experienced, and that if disruption of shipping in the Strait of Hormuz–linked to the U.S.-Iran conflict–continues for a few more weeks, normalization in the oil market would not happen until 2027.
(Reporting by Yousef Saba Editing by Bernadette Baum)