Saudi Aramco warns oil stockpiles depleted and hard to rebuild

Summarised from 2 outlets · Updated 5 Oct, 11:18 · Archive

Saudi Aramco's chief says global oil inventories are critically low and may take two years to replenish.

Saudi Aramco's chief executive Amin Nasser has warned that global oil inventories have been severely depleted and are at critically low levels. He said rebuilding these stockpiles could take as long as two years.

Nasser attributed the depletion to the Middle East conflict. According to CNBC, he warned that the squeeze on oil supplies could worsen as the U.S.-Iran war continues.

Saudi Aramco warns oil stockpiles depleted and hard to rebuild — Image: Financial Times

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How it is being reported

Saudi Aramco chief says replenishing global oil stockpiles could take two yearsCNBC · 5 Oct, 10:46
Saudi Aramco chief warns world’s oil stockpiles are ‘scarily thin’Financial Times · 5 Oct, 09:21

In this story: Saudi Aramco · Amin Nasser · Middle East

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