Aramco CEO Warns Oil Inventories Are 'Scarily Thin'
Global oil stockpiles have fallen to scarily thin levels, according to Saudi Aramco CEO Amin Nasser speaking at the Energy Intelligence Forum in London. Rebuilding these depleted reserves could take up to two years even after the Strait of Hormuz fully reopens and oil flows normalize. The ongoing conflict in the Middle East erased nearly three billion barrels of oil supply from the market. Nasser noted that oil prices could have spiked to $200 a barrel if not for the operational capacity of the East-West pipeline, which helped bypass regional transit bottlenecks.
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- ✓ Saudi Aramco CEO Amin Nasser warned that global oil inventories are scarily thin and could take up to two years to rebuild.
- ✓ The Middle East war cut regional supply by nearly three billion barrels.
- ✓ Oil prices would have reached $200 a barrel without the East-West pipeline, according to the Aramco chief.
- ✓ Amin Nasser delivered his remarks at the Energy Intelligence Forum in London.
What changed
Saudi Aramco CEO Amin Nasser publicly stated at a London conference that global oil inventories are critically depleted and will take years to recover.
Live updates
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Aramco CEO Warns Global Oil Inventories Are Scarily Thin
Global oil stockpiles have fallen to scarily thin levels, according to Saudi Aramco CEO Amin Nasser speaking at the Energy Intelligence Forum in London. Rebuilding these depleted reserves could take up to two years even after the Strait of Hormuz fully reopens and oil flows normalize. The ongoing conflict in the Middle East erased nearly three billion barrels of oil supply from the market. Nasser noted that oil prices could have spiked to $200 a barrel if not for the operational capacity of the East-West pipeline, which helped bypass regional transit bottlenecks.
Why it matters
The warning highlights extreme vulnerability in the global energy supply network following months of regional conflict. Aramco operates the world's largest single hydrocarbon network and holds massive proven crude oil reserves, giving its leadership direct visibility into market deficits. Industry executives warn that market turmoil will likely persist for years as the global supply system reaches its limits.
What is confirmed
- Saudi Aramco CEO Amin Nasser warned that global oil inventories are scarily thin and could take up to two years to rebuild.
- The Middle East war cut regional supply by nearly three billion barrels.
- Oil prices would have reached $200 a barrel without the East-West pipeline, according to the Aramco chief.
- Amin Nasser delivered his remarks at the Energy Intelligence Forum in London.
What to watch next
- Any formal announcement regarding the full reopening of the Strait of Hormuz
- Future movements in international crude oil pricing and inventory data reports
confidence 95%Sources used for this update (18)
- www.aramco.com — Where energy is opportunity | Aramco
- en.wikipedia.org — Saudi Aramco - Wikipedia
- www.aramco.com — About us | Aramco
- CNBC — Saudi Aramco chief says replenishing global oil stockpiles could take two years
- Reuters — Oil market turmoil could last for years, executives say
- WSJ — Aramco CEO Says Oil Inventories Could Take Two Years to Rebuild
- The Telegraph — Oil stockpiles are ‘scarily thin’, warns Saudi energy boss
- oilprice.com — Aramco CEO Warns Oil Inventories Are ‘Scarily Thin’ | OilPrice.com
- Crude Oil Prices Today | OilPrice.com — Aramco CEO Warns Oil Inventories Are 'Scarily Thin'
- www.techtimes.com — Aramco CEO: Oil Stocks Are Scarily Thin, Replenishment Takes Two Years
- thenationalnews.com — Oil prices would have hit $200 a barrel if not for East-West pipeline, Aramco chief says
- aramco.com — Remarks by Amin H. Nasser at the 2026 Energy Intelligence Forum in London
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