economy
March 10, 2026
Iran war threatens catastrophic consequences for the oil market, Aramco CEO says
Saudi Aramco beats profit estimates and keeps $85 billion payouts as oil prices surge again.
TL;DR
- Aramco CEO Amin Nasser warns of catastrophic consequences for the global oil market and economy due to the Iran war.
- The war has caused a severe chain reaction and domino effect on industries beyond shipping, including aviation, agriculture, and automotive.
- Global oil inventories are at a five-year low, and spare capacity is concentrated in the Middle East, making shipping through the Strait of Hormuz critical.
- Aramco reported full-year 2025 earnings beating estimates, with a net income of $104.7 billion and free cash flow of $85.4 billion.
- The company declared a base dividend of $21.89 billion for Q4 2025 and maintained total shareholder distributions of $85.5 billion for the year.
- Oil prices surged amid fears of supply disruptions, with crude spiking to nearly $120 per barrel, despite a general trend of easing prices in 2025.
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