Saudi Aramco CEO Warns Global Oil Inventories Have Depleted By Nearly 3 Billion Barrels
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Amin Nasser, CEO of Saudi Aramco, expressed concerns that the world's oil stockpiles are 'scarily thin' due to conflicts in the Middle East. He indicated that it could take up to two years to rebuild inventories that have been significantly depleted, with nearly 3 billion barrels of gross oil supply lost since the onset of the Iran war.
While some analysts suggest that record oil production and alternative delivery routes may ease the situation once the Strait of Hormuz fully opens, Nasser's warnings highlight the precarious state of global oil supplies, which have been severely impacted by geopolitical tensions.
Sources
Every quote below is verbatim from the article it is attributed to.
“Amin Nasser says inventories depleted by Middle East conflict could take up to two years to rebuild”
FT — Saudi Aramco chief warns world’s oil stockpiles are ‘scarily thin’“Saudi Aramco CEO Amin Nasser warned Monday that the world has lost nearly 3 billion barrels of gross oil supply since the Iran war began, equivalent to roughly half the crude and products that”
oilprice — Aramco CEO Warns Oil Inventories Are ‘Scarily Thin’
“Some see record oil production and more alternative routes for delivery once the Strait of Hormuz fully opens.”
MarketWatch — Saudi Aramco's CEO may be too downbeat about the road to restocking global oil supplies
Earlier versions
- Oct 5, 8:21 AM — Aramco CEO Warns Global Oil Supply Buffer Is Scarily Thin Amid Strait of Hormuz Concerns (1/1)