Saudi Aramco CEO Warns of Long-Term Oil Market Disruption
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The chief executive of Saudi Aramco has warned of potential long-term disruptions to global oil markets. The warning comes as the world's largest oil company reported strong financial results, with higher oil and refined product prices helping boost net profits by 25 percent in the first quarter compared to the same period last year. Saudi Aramco, the state-owned petroleum giant that serves as the backbone of Saudi Arabia's economy, has benefited from elevated energy prices amid ongoing global market volatility. The company's warning about market disruptions reflects concerns about supply chain stability and geopolitical tensions affecting the global energy sector.