2026-03-11
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The boss of the world's biggest oil company says the Hormuz bottleneck needs resolving or else he says there could be a catastrophe.
It's World Business Express from the BBC World Service.
I'm Leanna Byrne.
In India, cooking gas is in short supply and Volkswagen is slashing 50,000 jobs in Germany.
The world's biggest producer of crude oil, the Saudi firm Aramco,
has warned of catastrophic consequences
if the Strait of Hormuz is blocked for an extended period of time.
But as war rages in the Middle East and attacks on shipping severely reduce the transportation of oil and gas,
Saudi Arabia's east-west oil pipeline has emerged as a critical piece of infrastructure in the global energy system.
So what is this pipeline?
Simon Jack is the BBC's business editor.
I won't totally stabilize markets,
but I think that markets have taken some comfort from what Aramco said this morning.