Saudi Aramco CEO Nasser said the company's east-west pipeline and global inventory helped mitigate supply shocks and reduce the net supply gap to about 1.8 billion barrels. Many countries in Asia have already been affected. At the height of the crisis, the region's crude oil imports fell by about 6 million barrels per day. Saudi Aramco CEO Nasser said that if the Strait of Hormuz were to resume traffic today, it would take up to 18 months to fill up the exhausted stocks, based on the average oil transportation volume of 2.1 million barrels per day. Amenacer said it is still looking forward to reaching a solution to restore normal shipping and stabilize the market, but it will take time for the situation to return to normal.

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