Replenishing crude and fuel stocks could take two years, Saudi Aramco CEO says
Amin Nasser said emergency stock releases can only buy time as refined fuel prices rise and depleted inventories remain under heavy pressure.
- Saudi Aramco CEO Amin Nasser warned at the Energy Intelligence conference in London on Monday that global oil inventories may take two years to rebuild amid severe supply strain.
- Nearly 3 billion barrels of oil supply have been lost since military strikes in Iran began in February, disrupting shipping through the Strait of Hormuz, which handles around 20% of global supplies.
- Most of the 1 billion barrels released from stocks came from commercial inventories, Nasser said, while the remaining 6 billion in storage are "not practically available" to ease pressure.
- Following pressure from President Donald Trump, governments including France, Canada, Germany, Italy, Japan, and the United Kingdom agreed on Friday to release 100 million barrels of diesel and crude from emergency reserves.
- Oil prices traded marginally lower on Monday as Middle East exports rose, though pressure at both ends of the barrel will intensify until the Strait of Hormuz fully reopens.
142 Articles
142 Articles
Saudi Aramco warns: Even if oil supplies normalized, global stocks could not be replenished for two years.
World’s running out of cushion to blunt Iran war’s oil shock, top execs say - The Daily Bo Snerdley
The global oil market is burning through its remaining supply cushion as wars in the Middle East and Ukraine drain inventories and leave energy prices increasingly vulnerable. Less than 6 billion barrels remain in commercial inventories worldwide, but only a fraction of those supplies are readily available to the market, Saudi Aramco CEO Amin Nasser said Tuesday at the Energy Intelligence Forum in London, noting that the “system is already strai…
Global oil reserves have fallen to alarming levels and could take up to two years to recover, even if traffic through the Strait of Hormuz is fully normalized, Amin Nasser, the chief executive of Saudi Aramco, warned. Speaking at the Energy Intelligence Forum in London on Monday, Nasser said the global oil supply system is approaching its limits, after months of disruptions caused by the war in Iran and the near-complete closure of the Strait of…
Global Oil Reserve Recovery May Take Two Years Amid Structural Deficits
The current volatility in crude oil and refined product markets has shifted from short-term price swings to a structural deficit in reserve capacity. Speaking at the Energy Intelligence conference in London, Saudi Aramco CEO Amin Nasser noted that replenishing global strategic reserves depleted during recent crises could take up to two years. Nasser identifies a dual systemic failure: the physical loss of resources combined with the exhaustion o…
Saudi Aramco Chief Amin Nasser Warns That Global Fuel Stocks Could Take Two Years to Recover The post Aramco Chief: It Could Take Up to Two Years for Global Fuel Stocks to Recover appeared first on in.gr.
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