Aramco CEO warns of dangerously low global oil stockpiles

The CEO of Saudi Aramco, Amin Nasser, has raised concerns over critically low global oil stockpiles, describing the situation as scarily thin.

In his first public remarks since the US-Israel conflict with Iran began, Nasser highlighted that the war has slashed oil supply from the region by nearly 3 billion barrels. Over 1 billion barrels have been released from reserves to offset this loss.

Nasser estimated that fewer than 6 billion barrels of commercial inventories remain, with most of these not readily accessible. He warned that the global energy system is already under severe strain.

Speaking at the Energy Intelligence Forum in London, Nasser emphasized the lack of alternatives, stating that the world’s supply resilience is now dangerously inadequate.