Saudi Aramco CEO: Global oil supply has decreased by approximately 1 billion barrels in two months.

CoinFeed reported on May 10th that, according to Jinshi News, Saudi Aramco President and CEO Amin Nasser stated that global oil supply has decreased by approximately 1 billion barrels in the past two months. In a media interview that day, Nasser said that even if energy flows return to normal, the entire system will need time to return to normal. Saudi Aramco stated that the East-West pipeline is a vital supply artery, helping to mitigate global energy shocks and providing some assurance to customers affected by shipping restrictions in the Strait of Hormuz.