NASSER: WORLD LOST ABOUT BILLION BARRELS OF OIL IN TWO MONTHS

RIYADH, MAY 10 /SRNA/ - The world has lost about a billion barrels of oil in the past two months due to disruptions to shipping through the Strait of Hormuz, Amin Nasser, CEO of Saudi state oil company Aramco, told Reuters.

He stressed that it would take time to stabilize the oil market, even when shipping continues unhindered.

"Our goal is clear: to continue the flow of energy, even when the system is under pressure," Nasser said, after Aramco reported a 25 percent increase in profit in the first quarter of this year.

Nasser stressed that reopening the routes was not the same as normalizing a market that had lost a billion barrels of oil.

He added that years of underinvestment had exacerbated the pressure on already low global supplies.