Saudi Arabian National Petroleum Corporation President and CEO Amin Nasser said in an interview with Saudi media that the current situation in the Middle East has had an unprecedented impact on the energy market. Saudi Arabia's Arabian TV broadcast an exclusive interview with Nasser on the 22nd. Nasser said that since the crisis began, global crude oil supply has decreased by about 3 billion barrels compared to normal conditions. Without the release of global strategic reserves, oil prices would far exceed current levels. Nasser said that the Saudi east-west pipeline plays an important role in maintaining the crude oil supply in the market, and the pipeline's transportation capacity has increased from about 2 million barrels per day to 7 million barrels per day. He expects that after the situation returns to normal, the average daily demand for crude oil in the market will increase by about 3 million barrels for consumption and inventory replenishment.

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